The index ended 112pts up a meager 0.3pc WoW. Volumes increased by 3pc WoW while average value traded fell 9pc. The market started the week strong on the back of regional market stability but then suffered with the rally in international crude oil prices subsiding.
Friday saw the index open up over a 100pts and then steadily swing back to negative territory down over a 100 pts with a disappointing quarterly result from Pakistan Oilfields. It was OGDC's better than expected showing that helped the index close in the green.
The gainers this week were Noon Pakistan, Mitchells fruit farms, Saif Textile, Crescent Star Insurance, CYAN and Searle with gains of 25pc, 22pc, 20pc, 16pc, 14pc and 11pc respectively. In the last two weeks Noon pakistan has returned a whopping 40pc. KAPCO lost 5pc. Shifa and PIA also ended the week down.
Among actively traded stocks SEARLE, PIBTL, PACE, JSCL, ASC and TREET put in gains of 11, 10, 10, 8, 6 and 5.5pc. TRG was up 4.5pc. E&P's and oil marketing ended the week unchanged except for POL down 1.5pc for the week. Next weeks corporate results will set the tone for the index. ASC has gained 12pc in the last two weeks. MCB NBP and Habib Metro ended up 5pc.
Foreign outflow for the week stood at USD9.2mln and USD5mln for Friday alone. Last weeks outflow was USD19.7mln
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