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PSX Resounding Yes

KSE 100 Index closed at 44,444 up 1.5% adding 658 points despite increase in policy rate by 250bps. 

The market gave a resounding yes to the Supreme Court verdict yesterday of restoring National Assembly and making way for political process. It was a broad based rally taking all sectors with it. Volatility in the market was low and the KSE100 Index closed in its upper band. Overall market volumes increased from 141 mn shares in last session to 227 mn shares.

Foreigners were net sellers of $2.26mn mainly in Banks and 'Oil&gas'. Overseas Pakistanis were net sellers. In 'locals' all were positive except 'Insurance'. Today even Mutual Funds were marginally net buyers. In YTD Mutual Funds have been major net sellers to tune of $58mn. see details.

Rupee also appreciated by Rs. 3.5, after having faced a panic bout against dollar. Rupee today closed at 184.68 against yesterday closing of 188.18. See details

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