Weekly Review

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

Engro Polymer	Quarter Ended Mar 2016	0.03	-0.16	NIL
Engro Foods	Quarter Ended Mar 2016	1.46	1.39	NIL
MCB Bank	Quarter Ended Mar 2016	5.50	7.06	4
National Foods	Quarter Ended Mar 2016	0.77	1.67	NIL
National Foods	Nine Months Ended Mar 2016	5.87	5.95	NIL
Soneri Bank	Quarter Ended Mar 2016	0.49	0.56	NIL
Cherat Cement	Quarter Ended Mar 2016	2.08	1.92	NIL
Cherat Cement	Nine Months Ended 2016	5.91	6.04	NIL
Tri Pack Films	Quarter Ended Mar 2016	3.04	-4.43	NIL
NIB Bank	Quarter Ended Mar 2016	0.12	0.03	NIL
KAPCO	Quarter Ended Mar 2016	2.13	2.60	NIL
KAPCO	Nine Months Ended 2016	7.05	8.09	NIL
Ferozsons	Quarter Ended Mar 2016	16.44	8.13	NIL
Ferozsons	Nine Months Ended 2016	63.14	15.45	NIL
Packages Limited	Quarter Ended Mar 2016	17.37	7.89	NIL
Indus motors	Quarter Ended Mar 2016	37.56	41.72	20
Indus motors	Nine Months Ended 2016	112.56	81.70	NIL
Habib Bank	Quarter Ended Mar 2016	5.81	6.44	3.5
Saif Power	Quarter Ended Mar 2016	1.58	1.40	NIL
Askari Bank	Quarter Ended Mar 2016	0.97	1.00	NIL
Pakistan Refinery	Quarter Ended Mar 2016	2.10	5.01	NIL