Today's Market

The market closed down 83pts despite opening strong and gaining 200pts on crude oils strong performance. Turnover was healthy at 270mln shares though value traded was off by 20pc at Rs9bln. Big cap stocks ticked lower. Overall the market was tepid.

Overall investors are likely to factor crude oil prices from this point onwards and upcoming budget newsflow. Should crude prices rally significantly beyond this level the market could sail higher on the back of E&P'S.