Today's Market

The market ended a sideways session, closing up just  15pts at 49874. Turnover increased to 498mln shares while value traded was Rs20.8bln. Steel sector continued a sharp runup in recent days, while NML witnessed increased activity following its annoucement to pursue a JV with Hyundai. PTC and EFERT fell on subdued quarterly results. Going forward we expect the market to test 50000 level, though volatility cannot be ruled out.

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