Today's Market

The market closed down 116pts at 32623. Turnover jumped 55pc to 204mln shares while value traded rose 27pc to Rs7.96bln.

NIB, KEL, EFOODS, TRG and SILK were volume leaders today. NIB rose 10pc after MCB announced it is in merger talks NIB. Efoods, Meezan Bank, Cherat Cement were the main movers at the exchange rising 4-5pc.

POL was the worst hit among active stocks losing over 4pc. Oil stocks came under renewed pressure following weaker crude prices brought about by Iraqis annoucment that it won't abide output cuts for now,

Renewal of foreign outflows are putting pressure on the PSX.