Weekly Review

The market ended the week down 1387pts to close at 37390,  -4pc,  following a sharp sell-off on Friday, after Britain voted to leave the EU, in a shock referendum. This is the biggest weekly drop since mid Jan 2016. Volatility is likely to continue, with world markets sharply lower. The prospect of emerging market pressure is very real though Pakistan may be cushioned from the impact of the recent inclusion in the MSCI EM Index. 

AKZO was the top performer during the week picking up 18pc. NRL was up 10pc. FCCL and FATIMA finished the week marginally higher.

Banks were the worst hit stocks this week with UBL, HBL, MCB and BAFL losing 5-10pc. Oil and cement also lost momentum during the week. NML lost 8pc.