Market rebounds after negative day – MMSPL Research
By: M. M. Securities (Pvt.) Limited
After yesterday’s negative activity market seem more promising today. Bulls took over market today as KSE100 index break through another barricade and made high of 19005.46 and closed at 18982.42 points which was +159.57 points from its opening. The participation in market was realistic with total volume of 134 million with volume leader being FCCL. Highest increase in prices were noticed in BATA, COLG, RMPL and highest price fall was seen in ILTM, SAPL, GLPL. The result rally proved to be positive with company’s financials came out with shinning colors. The rumors of PTC being charged a hefty fine was verified by media to be fake which indeed helped it to gain volume of 14mn shares. The next trading day is expected to continue the same development, and high chances of market closing above 19,000 are there.