As per the recent disturbance between Pakistan and India, where Indian foreign policy and media tirelessly attempted to downgrade Pakistan’s image and market value, in an awake of ‘made-up surgical strikes drama’, Pakistan positively gained in PSX index dramatically with a whopping figure of over 41,000 point marks, addition.
Investors also conveyed their keen interest by buying banks, cement, sector stocks which rapidly increased up to 30%, and a huge increment was observed on last market closing day i.e. 568 million to 71.5 billion.
Blue chip stock also put their involvement along with the support of investors and disregarded the increasing stress between the Pakistan and India and market remained soggy for the whole week with this new gauge.
Fertilizer sector was on top with a rapid upturn that remained still. Engro Corporation rose up to 2.15%, Engro Fertilizer gained 1.36% and Fatima Fertilizers exceeded to 1.01% and provided a relaxing figure to investors in the last quarter of 2016.
Cement standard with a sudden rise of almost 15.5 points, impressed greatly by the news figure about the release of Rs. 110 billion for different social sector development projects under the Public Sector Development Program 2016-17. It gave a shove to the construction sector, said Abra Juma from Global Securities.
Dewan Cement got a good rise after its financial year earnings showed a promising outcome which gave a shock to the market. Other acquired in the sector included DG Khan Cement (exceeded by 2.22 percent), Lucky Cement (rose by 5 percent), and Maple Leaf Cement (up by 4.88 percent). United Bank and MCB Bank gained 2.45 and 1.81 percent, respectively.
Textile sector exhibited a promising gauge in the Intraday market as Nishat Chunian and Gul Ahmed rose by 1.18 and 5 percent, while Nishat Mills dropped to 0.82 percent.