k The Index closed almost level for the week covering most of its losses during the week on Friday, to close 28pts down for the week at 33739. Fridays close was up 167pts. Turnover during the week averaged 239mln shares while value traded was Rs.10bln up 25pc and 15pc WoW respectively.
Politics concerned the market on the outcome of the Panama leaks matter for the ruling party with the market tumbling from 25opts plus on Thursday to close in the red,
That said the Index has absorbed a spike in foreign outflow during this week. Wednesday and Thursday alone saw an outflow of USD24mln.
The E&P sector and refineries were the mainstay of support for the index during the week with PPL, POL and NRL rising in the 7-8pc range. Crude oil prices jumped this week. Cement and Fertilizers saw the most pressure during the week with most cement scrips losing around 4pc, while FFBl lost 10pc and Fatima and EFERT lost 5pc.
Volume leaders were SNGP, DFML, TRG, BYCO and PACE.
Among active scrips, the best performer was SNGP gaining 13pc. FFBL was the worst performer losing 10pc.
We expect the market to find resistance at 34000 level, with direction dictated by crude oil prices and the quantum of foreign flows. Politics could add to volatility
The following companies announced their results during the week::
EPS Prev Div
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