· Market dipped 701pts during the session today and closed the session -612pts (unadjusted). Financial year end closing for the institutional investors (Banks and Mutual Funds) prompted profit booking, especially in the aftermath of MSCI downgrade from Emerging Market to Frontier Market which can possibly result in selling from foreign corporates. Selling pressure was witnessed across the board with emphasis on Cement, Banks, E&P sectors. Among scrips, WTL topped the volumes with 97.7M shares, followed by BYCO (52.4M) and JSCLR1 (50.3M).

· The Index closed at 47,002pts as against 47,603pts showing a decline of 601pts (-1.3% DoD). Sectors contributing to the performance include Banks (-191pts), Cement (-106pts), O&GMCs (-53pts), E&P (-52pts) and Textile (-45pts).

· Volumes declined from 761.4mn shares to 655.1mn shares (-14% DoD). Average traded value also declined by 13% to reach US$ 119.2mn as against US$ 137.5mn.

· Stocks that contributed significantly to the volumes include WTL, BYCO, JSCLR1, KEL and TREET, which formed 39% of total volumes.

· Stocks that contributed positively to the index include TRG (+22pts), ABOT (+10pts), THALL (+8pts), ABL (+8pts) and PKGS (+8pts). Stocks that contributed negatively include HBL (-69pts), LUCK (-51pts), UBL (-43pts), HUBC (-33pts) and MCB (-24pts).