· Market declined further today with a drop of 278pts during the session and ended the session -196pts. Selling was evident across the board, but had the most impact on Cement, Fertilizer, Steel sectors. Financial results have failed to generate the usual interest among investors perhaps due to the upcoming tight budget right after Ramadan and a long hibernating period till the next financial results will be announced. International crude oil prices were on the rise overnight, however, E&P stocks did not react to it. Among scrips, HASCOL led the table with 43.8M shares, followed by GGL (32.6M) and TELE (19.5M).

· The Index closed at 44,863pts as against 45,059pts showing a decline of 196pts (-0.4% DoD). Sectors contributing to the performance include Banks (-58pts), Cement (-56pts), Fertilizer (-33pts), Power (-28pts) and Tobaco (-13pts).

· Volumes declined from 305.7mn shares to 280.7mn shares (-8% DoD). Average traded value also declined by 16% to reach US$ 88.6mn as against US$ 105mn.

· Stocks that contributed significantly to the volumes include HASCOL, GGL, TELE, TRG and GGGL, which formed 45% of total volumes.

· Stocks that contributed positively to the index include HASCOL (+10pts), KTML (+10pts) and ICI (+8pts). Stocks that contributed negatively include FFC (-26pts), SNGP (-26pts), MCB (-14pts) and POML (-13pts)

Courtesy – AHL