ASPI hits 5-month high; Hefty collection on Banks persist

Buying momentum continued yet another day while the broad market witnessed a recovery as investor sentiment improved on the back of the significant increase in BOP of the country to USD 211.0Mn for Jan 2023 while, the high probability of securing the IMF bailout by Mid Mar 2023 further supported the market sentiment.

Accordingly, index displayed a sharp upswing and continued to climb higher to end the day at a 5-month high of 9,334, while recording the highest intraday gain of 111 points in nearly 2-weeks.

Retail investor participation was observed in the Banking sectors (mainly HNB, SAMP and COMB) ahead of the Monetary policy review meeting which is scheduled for tomorrow.

First Capital Research