Weekly Review

The market took a breather closing up just 50pts for the week at 46634, down from a peak of 47210. Volumes turned lower at 336mln shares reaching a 4 month low while value traded for the week was Rs 17.2bln. PIBTL closed over 10pc lower WoW upon announcing delay in commercial operations and a rights issue. ATRL, PSMC and AICL performed during the week. 

Closure of PSX sell off deal has brought about a pause after a particularly sharp run up. We expect focus to shift to upcoming earnings. Net outflow continued at USD45mln this week. The last seven consecutive weeks have seen a cumulative outflow of USD262mln.