The market finished a bleak session about 400pts below the lowest close for this year. Todays trading left the KSE100 index surrender all gains this year ending with a deficit of over 200pts year to date, to close at 47577. Volumes remained thin with 185mln shares changing hands while value traded was Rs.8.8bln. Volumes were generally skewed towards small cap which is why value traded stayed low. Impending Panama Verdict, absence of positive triggers, low liquidity left the market moving sharply lower in search of support at lower levels.
Declines were across the board with 292 shares closing down.
Keeping in view thin trading volumes we expect volatility till the verdict is announced. Clarity on this issue could help the market regain its bearing.
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