The market closed down 582pts for the week at 39782. Avergage volumes for the week were 727mln shares while value traded was Rs17.6bln. Rising tensions with India hit the index hard, with some room for the fall made by over exhuberant trading in second tier stocks.
Chemicals were the only bright spot in trading this week with ARPL, BERG and ICI rising 7/5/2pc.
LUCK and KOHC managed higher closings this week at 3 and 2pc, while banks shed 2-3pc.
HINO and HCAR were the top performers this week with 10pc gains.
MUREB, TRG. PNSC, GHNI. BYCO lost 8-11pc. Going forward, should the cross border war hysteria die down, we expect the market to consolidate as some of the buzz around second tier stocks peter out.
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