Weekly Review

The Market closed the week 349pts plus at 31298. Average volumes were 116mln shares down 20pc Wow and value traded was down 12pc at Rs 7bln. For the most part the market was caught up in between regional market movement and international crude oil price fluctuations.

The only noteworthy performer this week was NRL which rose 9.5pc. FEROZ lost 13pc. Talk of output cuts by oil producers lifted sentiment in international crude markets giving support to local oil stocks propping up an otherwise battered local exchange.

Kohat Cement announced a strong set of earnings closing up 9pc for the week. Similarly FFC earnings were better than market expectations.

Foreign outflow during the week came in at USD7mln compared to USD32mln last week.