Today's market

The market closed up 172 pts to close at 32565. Volumes were thin at 119mln while value traded was Rs7.3bln. Sustained foreign outflows have made investors cautious. Today's index gains were due to HBL, Engro, Hubco, and Dawood Hercules. These stocks in total added 180pts to the index.MCB and OGDC cumulatively cost the index 50pts.

The looming US Federal Reserve rate decision and the direction and magnitude of foreign flows will determine the direction of the local bourse.