KSE 100 closed +0.9% at 46,019 with Rs 23b worth of securities traded. The grass was greener today. The statement from coalition partners that we would support PTI in the Senate election was reassuring. And thus, the Index saw greener pastures today. Tomorrow, we shall expect net positivity to prevail as valuations are too good and yet to mature. Senate elections result would have calm political sentiments.
TRG (+3%)continued the momentum upwards as investors rejoice with detail financial statements showing growth in underlying companies. Similarly, expected volume & margins growth kept Mughal Steel (7%) & Aisha Steel (7%) upwards. Oil Market Companies data came out that showed PSO (+3%) clearly grabbing the market share. Among the negatives, Agha Steel (-3%) stood out after lower than expected profitability in December results.