Today's Market

The market managed to close up 39 pts even though it was negative for most of the day amidst concerns regarding inclusion in MSCI EM. During the day it made an intra day low of 300pts. HBL, UBL and MCB were largely responsible for rescuing the market from negative territory. We expect activity to remain volatile till uncertainty on MSCI front is dissipated. The broader market was significantly weaker today with many blue chip stocks in the list of the day's decliners.