Today's Market

The market recovered its losses at open, falling initially on news of the closure of OPEC talks without agreement on an output freeze. It ended 7pts down at 33760. Turnover was 156mln shares while value traded was Rs 7.35bln. Both were down 20 and 13pc respectively. Refiners were once again the best performing sector while fertilizers came under pressure, with the other big cap stocks remaining largely stable.

The two Sui's, ATRL, ARPL, FABL and JSBL closed over 4pc up.

BATA, COLG and AKZO closed down over 4pc.

The most actively traded stocks by value were, ATRL, POL, SNGP, TRG, PAEL and PIBTL.

We continue to expect significant resistance at the 34000 level.