Bullish activity witnessed after positive reports on Pak-US relations as government met US envoy in the federal capital to work together. The market remained range bound during the day with index closing at 11,988 points level.
The KSE 100 index closed at 11988.09 levels with the gain of 21.80 points, while KSE 30 index lost 3.93 points to close at 11503.37 levels. All Share index closed at 8395.34 levels after gaining 13.31 points. Total 118 scrips advanced 133 declined and 104 remain unchanged out of total 355 scrips traded.
“Rising local fertiliser prices, cement prices and higher oil refinery margins lead the rally in commodity stocks. Recovery in global stocks, rupee stability and falling government bond yields played a catalyst role in positive sentiment in the earnings announcement session at KSE despite concerns for gas shortfall for industrial sector, rising circular debt in energy sector and soaring trade deficit,” said Ahsan Mehanti Director Arif Habib Investments Limited.
Attock Group stocks, particularly, POL (up 1.6%) and APL (up 3.0%) stayed in the lime light on the expectation of better 1Q results scheduled to be announced early next week. NBP on the other hand remained under pressure (down 3.1%) despite clarification from the bank that none of its executives are on the ECL list. HUBC was also down 3.4% after news reports suggesting that one of the sponsors is seeking to exit its investment from the company.
