Market review

The index fell 152pts today down half a percent to close at 34032. Volumes rose 20pc to 240mln shares and value traded was up 10pc at Rs. 10.8bln. Regional markets came under pressure today and so did crude oil. Some profit taking was evident after 5 consecutive days of increase.

Todays gainers were PACE up 12pc, Saif Textile, Gadoon Textile, Sapphire Fibres, Noon Pakistan, CYAN and Crescent Steel all up by 5pc.

Pak Elektron saw a lot of action today with high activity. It closed down 1.4pc at 81.24 after making an intra day high of 85.4. E&P companies gave up some of last weeks gains to close down 2-2.5pc. Lucky and Fauji Cement lost 1pc each. Fertilizers ended the day marginally in the red with the exception of FFC which was down 2pc. Al Shaheer was down 2.5pc. Commercial Banks were also marginally lower. Efoods and PIBTL were up 2-2.5pc.

Going forward focus will remain on upcoming earnings. Investors should focus on PPL and DGKC.