The KSE 100 Index witnessed a volatile session, printing an intra-day high of 44,809 (up 0.85 percent ) and an intra-day low of 44,199 (down 0.52 percent ) to eventually close the day at 44,491 (up 0.13 percent ).
Likely issuance of USD2 billion Euro Bond buoyed investor sentiment while COVID related lockdowns coupled with NAB investigation over IPP’s payment kept the market gains in check.
Moody’s statement on Pakistan’s Islamic Banking assets being credit positive for banks resulted in increased appetite for Banking stocks after which the sector closed up 1.16 percent for the day.
Major positive contribution came in from MCB, FFC, INDU, FFBL & PAEL who cumulatively added ~110 points to the benchmark index while ENGRO, HUBC & MARI dragged the index lower by ~99 points.
Volumes for the day remained thin amid general caution adopted by investors with the daily traded volume and value clocking in at 338.54 million (down 35.4 percent DoD) and PKR 20.68 billion (down 11.67 percent DoD) respectively.
The volume leader for today was BYCO with 46.12 million shares exchanging hands.