The market closed up 51pts at 40415 on over a decade high turnover of 876mln shares. Value traded was also high at Rs19.2bln. So far this month the markets rise hasn't been spectacular up just over a percent. Foreign outflow for the last two weeks has been USD10mln with USD10mln today. Top 8 stocks by value traded account 35pc of total value traded. Most of the volumes were generated by second tier stocks.
TRG, BYCO, MTL, JSCL, MUGHAL, SSGC, closed at or near uppercap. FEROZ, GHNL, PCAL, closed at lower cap.
At current levels, given net outflows the market could come in for some profit selling.
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