Weekly Review

The market closed down 277pts for the week with an average daily turnover of 89mln shares and value traded of Rs6.4bln. Turnover was over half December's average while value traded was over three quarters of the December average. The shortened trading week led to dull trading activity with the main news for the week being HBL's troubles with US regulators. Engro saw support during the week due to the governments reported desire to arrange continued gas supplies from Mari for EFERT. Movement during December so far has been anemic with net change in the index of 245pts so far.

Netsol was the major gainer among active stocks this week ul 16pc. ATRL, GHNL, JSCL also found support ending up 6-8pc for the week. Fatima closed up 5pc. SSGC and SNGP closed down 6pc. Noon Pakistan lost 15pc on announcement of its right issue. HBL ended down 3pc.

Net Foreign outflow during the week was USD1.8mln for the week, last week it was USD10.3mln,