Today's market

The index declined by 700pts to close -2.14pc at 32255. Volumes were 143mln shares and value traded was Rs.6.9bln. This is the largest fall in a single day since the beginning of this quarter. Continued foreign flows coupled with low buying interest put pressure on values. Today's net outflow number was USD 8.1mln. Taken together with the outflow of 6.3mln on Friday that's almost USD15mln in two days. Further political rumblings kept buyers at bay.

Out of the top 30 most actively traded scrips not one managed to close up. Pak Elektron, TRG, DGKC, OGDC, SSGC, PSO, SNGP, MCB, Maple leaf cement and NBP were particularly hard hit closing down 3-5pc. Going forward the index could see support at the 32000 level.