Market remained range bound throughout the session, trading between +160pts and -170pts, closing the session -101pts. Re-imposition of lock down has dimmed the prospects of quick economic recovery / stabilization. Expectation of rate cut renewed in the early part of the session with the possibility of an emergent meeting at SBP taking place anytime next week. International crude prices also realized an increase of US$1 / bbl, but oil stocks barely moved on the spike. FTSE rebalancing also created some excitement, but against expectation didn’t affect the banking sector much. Brisk buying was observed in both MCB and BAFL. Banking sector led the volumes with 12.7M shares, followed by Technology (10.4M) and Power (10.2M). Among scrips, KEL posted 9.1M shares, followed by UNITY (7.2M) and BAFL (5.7M).

· The Index closed at 33,439pts as against 33,540pts showing a decline of -101pts (-0.3% DoD). Sectors contributing to the performance include E&P (+39pts), Banks (+15pts), Inv Banks (-25pts), Cement (-24pts), Fertilizer (-21pts), O&GMCs (-21pts) and Pharma (-16pts).

· Volumes dropped from 216.2mn shares to 105.9mn shares (-51% DOD). Average traded value also declined by 49% to reach US$ 20mn as against US$ 38.9mn.

· Stocks that contributed significantly to the volumes include KEL, UNITY, BAFL, PRLR 1, BGL, which formed 30% of total volumes.

· Stocks that contributed positively to the index include MCB (+39pts), BAFL (+13pts), PPL (+12pts), POL (+11pts) and OGDC (+10pts). Stocks that contributed negatively include DAWH (-25pts), UBL (-17pts), LUCK (-16pts), EFERT (-15pts), and MEBL (-13pts). (AHL).