Todays Market

The market closed up 114pts at 42439 even as outflows continue. Outflow for the day was in excess of USD5mln. Turnover was sharply lower today as was value traded. Turnover was 347mln and value traded was Rs9.5bln. HASCOL, HTL, BWCL, TREET hit uppercap. Despite a runup in crude oil prices, as hopes for a deal on production cuts gathers steam, PPL, OGDC and POL managed 36, 41 and 99th place by value traded. Newsflow regarding a resurgent Pakistani Economy remains upbeat, though investors are likely to focus on volatility on the Panama leaks matter, as well as a new and unpredictable Presidency in the US, which could impact flows to emerging markets.