Market saw repeat of selling pressure witnessed yesterday in the second session, which was driven by institutional selling and caused the market closing in red. The second session today saw aggressive selling, particularly in E&P, Banks and O&GMCs sector that brought the Index down by -247pts. Draw down in international crude oil prices supplemented the decline in E&P sector. Cement sector continued the uptrend with DGKC, LUCK, PIOC moving up and helped adding +303pts during the session. Technology stocks also saw profit booking, barring NETSOL that despite declaring nominal EPS and hitting session’s low, bounced back strong. Among scrips, WTL topped the volumes with 58.6M, followed by TELE (37.8M) and TRG (17.9M).

· The Index closed at 45,808pts as against 46,055pts showing a decline of 247pts (-0.5% DoD). Sectors contributing to the performance include Banks (-114pts), E&P (-109pts), Power (-64pts), Inv Banks (-40pts) and Fertilizer (-16pts).

· Volumes declined from 1.12 bn shares to 442.7mn shares (-61% DoD). Average traded value also declined by 41% to reach US$ 131.7mn as against US$ 224.1mn.

· Stocks that contributed significantly to the volumes include WTL TELE, TRG, DGKC and PIBTL, which formed 32% of total volumes.

· Stocks that contributed positively to the index include LUCK (+58pts), SYS (+23pts), DGKC (+22pts), MTL (+10pts) and PIOC (+6pts). Stocks that contributed negatively include OGDC (-42pts), DAWH (-40pts), HUBC (-37pts), POL (-35pts) and MCB (-30pts).