In addition, encouraging results of a banking sector company led investors to accumulate its stocks. “Banking sector played an important role in market recovery as MCB’s result announcement further helped the other banking sector stocks to post gains.”Resultantly, banking sector posted trading volumes of 27.1 million shares, followed by cement (21.7 million) and oil and gas marketing companies (19.9 million). Among scrips, the Bank of Punjab topped the charts with 16.4 million shares, followed by Hascol (15.7 million) and Unity (8.3 million), the report added. MCB (+4.6%), HUBC (+3.3%), ENGRO (+2.1%), UBL (+2.5%), BAHL (+2.4%), LUCK (+2.2%), PSO (+1.5%) and OGDC (+0.6%) cumulatively contributed 327 points towards the positive index close. It was followed by Hascol Petroleum with 15.7 million shares, gaining Rs0.38 to close at Rs25.69 and Unity Foods with 8.3 million shares, gaining Rs0.09 to close at Rs13.83.

Source: The Express Tribune February 04, 2020 14:15 UTC