Day Wrap: KSE 100 closed +0.05% with a traded value of US$ - TopicsExpress



          

Day Wrap: KSE 100 closed +0.05% with a traded value of US$ 59.7mn. Sluggish start to the day with aggressive activity once again in sideboard names. Small cap textiles continued to perform on the potential acquisition stories from larger local players and Chinese investors to attain the maximum benefit of GSP+ regime. OMCs (PSO, SHEL & APL) remained in limelight on anticipation of increase in their margins, the decision on which has been pending for the approval with the ECC. Banks mostly traded in the green with NPL reversals expected during 4QCY13. BOP was an exception with robust vols. of over 50mn. The Day was: Pak State Oil (PSO) +1.55% (335.80) performs on the day with rising expectations of a margin hike on Petrol & Diesel. OMCs are to meet the Finance Minister in a couple of days to discuss the oil import process. Regional sell off could be a slight concern in the next few sessions, however +ve outcome from the Prime Ministers Stance to hold negotiations with the TTP could trigger new found optimism into the market.
Posted on: Fri, 31 Jan 2014 03:27:41 +0000

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