Today's market

The market seems to have broken it's spell of direction less movement and headed conclusively lower. The index closed 1pc lower down 378 pts at 33958. Volumes were down 7pc and value traded was up 10pc at 205mln shares and Rs.8.9bln. Trading unlike yesterday was broader, covering more scrips. The only positive takeaway is that some scrips that contributed to today's index loss weren't heavily traded.

The days gainers were Ghandara Industries, SS oil which ended at uppercap. Noon Pakistan, Packages and Bank Islami closed up 3pc.

The days losers were Hayderi Construction and Descon R down 15pc. JSCL R down 8pc, Pace and Dewan Cement down 7pc. JSCL, Shezan Pak Elektron, Ghandara Nissan, TRG, SSGC, and Byco ended down around 5pc. Hascol and Pak Bulk Terminal ended under 4pc down.

Oil and gas marketing led the market in declines. Cements, Banks, Fertilizers and E&P's closed lower.