KSE Market Summary for 22 January 2013

Local Stock Exchange trended on an upbeat momentum from the previous session, albeit the gains were curtailed during the intraday profit taking. Positive news flow contributed to overall gains in oil and gas sector as PPL’s MD indicated prospective drilling in Gambat block while flows from recently completed extended facility at Makori EPF reaching targeted level kept interest alive.

Overall investor participation has also improved to 128mn shares after last week’s dismal turnover. With rental power case hearing due during the week, we expect market to remain sideways amid political noise.

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