Pakistan equities witnessed massive activity ahead of FoDP meeting gaining 2.31% to close above 9,400. From the onset the tone was set after JSCL announced its FY09 resulting posting loss per share 18.88. The stock took the news very well closing up 5% with over USD10mm traded today (as players believe worst os over for the stock). PSO remained buoyant today as circular debt issue in the energy sector gets govt priority with others undergoing some profit taking (OGDC & PPL opened ex today). To the surprise of many, PTC PA hit upper lock with company set to announce FY09 results (market looking at a PKR1/sh cahs payout). Banking stocks rose with the market with UBL hitting upper price lock in early trading. Sector closed 3.4% as lagging stocks gain.
Market will now shut till Wednesday Sep 23 during which Friends of Democratic Pakistan meeting having taken place in NY. With continued FII interest
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