·        In the aftermath of PM’s vote of confidence from the Parliament, Market saw a heavy draw down with an oscillation of 1583pts posting an increase of 595pts in the early part of the session and dropping by 988pts during the session. The Index closed -786pts. Political uncertainty emanating from possible change in Punjab’s political setup perturbed investors, at the same time recent rapid upsurge in inflation (primarily international crude oil prices) also caused Investors to think twice about upcoming monetary policy and impact thereof on cyclicals. Resultantly, cement, steel, O&GMCs saw major attrition today. Over the weekend increase in international crude oil prices helped E&P stocks to stay afloat, however, selling pressure in other stocks also brought pressure in OGDC and PPL as well. Among scrips, ANL topped the volumes with 48.2M shares, followed by UNITY (45.4M) and TRG (35.4M).

·        The Index closed at 45,051pts as against 45,837pts showing a decline of 786pts (-1.7% DoD). Sectors contributing to the performance include Cement (-205pts), Banks (-104pts), Power (-67pts), Autos (-49pts) and Pharma (-46pts).

·        Volumes increased from 317.2mn shares to 459.8mn shares (+45% DoD). Average traded value also increased by 55% to reach US$ 157.5mn as against US$ 101.5mn.

·        Stocks that contributed significantly to the volumes include ANL, UNITY, TRG, PRL and BYCO, which formed 37% of total volumes.

·        Stocks that contributed positively to the index include PAKT (+10pts), POL (+10pts), ANL (+7pts), MEBL (+3pts) and FCEPL (+2pts). Stocks that contributed negatively include LUCK (-85pts), HUBC (-48pts), HBL (-39pts), DGKC (-36pts) and INDU (-24pts).