· Market saw another thrashing of 1003pts after posting an increase of 199pts during the session. Selling pressure kept building up by the end of the session, where several stocks hit lower circuits. However, periodic buying contained the losses to -912pts by the end of the session. The cement sector saw buying activity, whereas Banks, E & E&P, Power, and O&GMC sectors contributed most to the Index’s decline. Though FBR clarified the withdrawal of tax exemptions, the investors remained perturbed in anticipation of the levy of additional taxes that made the leveraged investors closing their positions at market rates rather than meeting the margin requirements. Also, tomorrow’s senate elections also had a bearing on today’s session. Investors preferred staying away from the market than bearing the brunt from any surprise, as was witnessed in the previous week. UNITY led the volumes with 34.8M shares among scrips, followed by TRG (27.1M) and HUMNL (21.4M).

· The Index closed at 42,780pts as against 43,692pts showing a decline of 912pts (-2.1% DoD). Sectors contributing to the performance include Banks (-139pts), E&P (-118pts), Technology (-98pts), Textile (-74pts) and Cement (-70pts).

· Volumes increased from 363.2mn shares to 406mn shares (+12% DoD). The average traded value, on the contrary, declined by 16% to reach US$ 112.8mn as against US$ 134.6mn.

· Stocks that contributed significantly to the volumes include UNITY, TRG, HUMNL, WTL and KEL, which formed 30% of total volumes.

Addressing the importance of such collaborations, Jean-Marc Dumont, Country Manager of Carrefour Pakistan at Majid Al Futtaim Retail, said, “At Carrefour Pakistan, we prioritize the safety and wellbeing of our customers above all else and strongly believe in providing them with the necessary means to keep healthy and practice high standards of hygiene. Education and the right tools are key elements that can help in combatting the Dengue epidemic. Our partnership with Mortein underscores our values as a responsible brand that is committed to its communities by supporting them in the fight against this deadly virus.”