Closing Bell - Index Declines 0.35 Percent

The market was relatively unmoved today as all the eyes were concentrated on Prime Minister's appearance before JIT. Markets have practically been trading at status quo for the last few sessions.

Furthermore, the political events continue to take precedence sending mixed signals about the future of Pakistan's political situation to local and foreign investors. Also, a news report cited a mixed reaction from the American Investors as they were concerned over lack of initiatives to broaden the tax net and to simplify tax administration for existing taxpayers.

The market's opening was uneventful in the morning as the market did not receive a rise in the morning. The market witnessed a relatively higher activity compared to yesterdays as the number of trades increased by a 29 percent.

The session witnessed a cumulative decline of 165.91 points or a 0.35 percent.

The index touched an intra-day high of 48,088.63 and a low of 47,369.87 points, and closed at a tally of 47,442.72 points.

The net gainers during today's session were; Exide Pakistan Ltd. EXIDE +5.00%, Wyeth Pakistan Limited WYETH +2.09%, Service Industries Ltd. SRVI +2.87%, Jubilee Life Insurance Company Ltd. JLIL +3.02% and ICI Pakistan ICI +1.50%.

The net decliners during the session were; Bata Pakistan Ltd. BATA -3.31%, Sapphire Textile Mills Ltd. SAPT -5.00%, Hinopak Motors Limited HINO -2.67%, Khyber Tobacco Company Ltd. KHTC -4.10% and Lucky Cement Ltd. LUCK -3.09%.

All Share Volume increased by 99.78 Million to 355.32 Million Shares. Market Cap decreased by Rs.15.58 Billion.

Total companies traded were 350 compared to 361 from the previous session. Of the scrips traded 183 closed up, 147 closed down while 20 remained unchanged.

Total trades increased by 7,289 to 70,874.

Value Traded increased by 1.22 Billion to Rs.11.65 Billion