Finance

PSX witnessed positive investor sentiment in today’s session

Karachi, November 28, 2019: The KSE-100 Index witnessed positive investor sentiment in today’s session, making an intraday high of +724 points to close at 38,706 level, 583 points above yesterday’s close. Volumes improved as 348 million shares were traded in the market as compared to 228 million shares in the previous trading session.

UNITY (+3.3 percent) from the food sector again led the market in terms of traded volume with 20 million shares. The Supreme Court announced a short order on the case pertaining to the extension/reappointment of Chief of Army Staff (COAS) Gen Qamar Javed Bajwa whereby the government has been granted six months to pass legislation and issue an amended notification in this regard.

Investor’s interest was seen in the Cements, Banking and E&Ps sector, where DGKC (+3.1 percent), MLCF (+5.0 percent), LUCK (+2.5 percent), NBP (+5.0 percent), MEBL (+1.9 percent), UBL (+1.3 percent), POL (+1.4 percent) and OGDC (+0.7 percent) were the major gainers of the mentioned sectors.

Pharmaceutical sector closed higher than its previous day close as GLAXO (+5.0 percent), FEROZ (+5.0 percent), ABOT (+5.0 percent) and SEARL (+2.5 percent) closed in the green trajectory. Going forward we expect the market to remain positive however investors are recommended to book profits on strength.

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