The market closed down 116pts after making an intraday low of -600pts. Volumes and value traded surged to 195mln and Rs 11.9bln respectively. Turnover was up 47pc and value traded was up 66pc. Broker woes and a bearish crude oil market doused any buying interest during most of the session though hopes of a financing product for investors brought bargain hunters to the fore with the market recovering most of its losses.
POWER, EPCL and MUGHAL were up over 4pc. 11.9bln. AGTL, ABOT, INIL, HMB, MERIT lost the most value for the day.
We expect volatility to remain a feature of activity pending provision of a robust financing product and the Panama Case verdict.
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