The market ended the day flat at 41251, at one point venturing as high as 41447. Turnover was 18pc higher at 775mln shares while value traded was almost level with yesterday at Rs.18bln. Pakistan issued it's latest sukuk at rates f favorable compared to the last issue which is indicative of improved economic perception in international markets.
Bigcap stocks retreated a little from recent highs. Small caps saw most of the action with the exception of SNGP and TRIPF and DAWH which hit uppercap. HINO, MUREB, SHEL and GTYR lost 5pc.
We expect the market to consolidate between 41000 and 41500 with result season kicking off soon. Muharram holidays next week and some rising political temperature will be closely followed.
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