Karachi, January 12, 2020: The benchmark KSE100 index closed positive at 45,922 levels (up 317 points.) after making a high of +408 points. Mostly activity was seen in the second and third tier stocks where KEL (12.2 percent), HU MILLIONL (10.1 percent), UNITY (7.1 percent), PIBTL (2.0 percent), SILK (1.6 percent), TRG (6.5 percent) and BYCO (0.5 percent) were volume leaders, cumulatively contributing 448 million shares to the aggregate.
Moreover, activity was seen in the Auto sector on the grounds of an 18 percent YoY rise in car sales during the first half of the current fiscal year.
HBL (1.5 percent), BAHL (0.4 percent) and MCB (0.6 percent) in the financials closed in the positive zone. OGDC (1.8 percent), POL (0.7 percent) and PPL (1.7 percent) in the E&Ps closed in the green zone despite a dip in international oil prices over demand concerns.
Moving forward, we recommend investors to avail any upside opportunity to sell.