Weekly review

The index closed at 32708 down 250pts. Volumes rose 8pc to 154mln shares and value traded rose by 15pc to Rs 7.6bln. Last week the market was down 900pts. The week started with big net foreign outflows and that caused to the market to take a tumble. A respite on this front and better newsflow regarding broker and SECP consultations regarding new regulatory regime helped the market recover some lost ground. That said, volumes remain on the lower side and that doesn't bode well for market strength. International market volatility could also weigh on sentiment next week both in the oil markets and financial markets given the US Federal Reserve's reported inclination toward rate hike.

Most Active stocks ended lower this week with the exception of Amreli Steel and Ghandara Nissan. The worse hit stocks were SSGC, OGDC, Byco, Ghandara Industries and JSCL.

Net outflow for the week was almost USD17mln. For the last two months average weekly outflow has hovered around USD12mln.