· Market saw a draw-down of 539pts during the session, which came in the back drop of depreciating rupee, rising costs of commodities (particularly coal for Cement) and redemption calls at mutual funds end. Cement sector saw significant selling pressure followed by Banks and Technology stocks due to cost pressures and limited flexibility to pass on the costs. Weak investor sentiment, as evident from longer than anticipated consolidation of the KSE100 benchmark, made even the depreciating rupee a negative factor for Technology, Textile and E&P stocks, which would otherwise benefit. Among scrips, GGL topped the volumes with 57.9M shares, followed by WTL (53.3M) and ANL (42.1M).

· The Index closed at 46,903pts as against 47,413pts showing a decline of 510pts (-1.1% DoD). Sectors contributing to the performance include Banks (-138pts), Cement (-125pts), Fertilizer (-43pts), E&P (-38pts) and Technology (-32pts).

· Volumes increased from 536.6mn shares to 544.4mn shares (+1% DoD). Average traded value also increased by 12% to reach US$ 96.2mn as against US$ 8.1mn.

· Stocks that contributed significantly to the volumes include GGL, WTL, ANL, SERFR and TELE, which formed 41% of total volumes.

· Stocks that contributed positively to the index include NRL (+8pts), PSX (+7pts), ATRL (+7pts), BYCO (+6pts) and MARI (+4pts). Stocks that contributed negatively include UBL (-41pts), HBL (-40pts), LUCK (-36pts), MCB (-30pts) and CHCC (-25pts)

Courtesy – AHL