Todays Market

The index closed down 12o pts to close at 33079. So far this week the index is down 775pts or 2.3pc. Volumes were down 9pc at 140mln shares while value traded dipped 20pc at Rs.6.3bln. The index opened today and headed quickly into positive territory. At one time it was up 200pts. Gains were however shorlived and bearish sentiment prevailed albeit with low volumes. Six scrips accounted for all of todays index decline. These were Fatima, Engro, OGDC, PPL, UBL and MCB, The market continues to settle lower.

Mobilink announced its merger with Warid telecom. Bank alfalah ended the day up almost 4pc.