Weekly Review

The index closed down 452pts or 1.4pc at the 31000 level. Volume during the week averaged at 124mln shares down 15pc WoW while value traded averaged Rs6.6bln down 22pc WoW. Except for Mondays positive close it was downhill for the rest of the week. DGKC saw the most value traded during the week followed by OGDC, ENGRO, POL and PPL.

Banks and Oil stocks were among the least hit this week. Fertilizers were the worst hit. Crude oil prices took support from talk of an effort among oil producers to bolster prices. EFERT declining by almost 10pc on news of a fresh offering. FFC lost 2.7pc. IPP's also lost value with KAPCO down by 5pc, EPQL and SPWL down by 3pc. Refiners also suffered losses, PRL down by 6pc, and BYCO by 4.8pc.

Among active stocks the worst performers were Amreli Steel down by 17pc, JSCL by 14pc, and SSGC by 15pc. Lucky Cement lost 4pc.

Foreign Outflow during the week came in at USD13.2mln. Last week it was USD17mln.