Bears continue to dominate the markets for the most part of this week. The stock market fell consecutively for third day as the market’s sentiment at the start of the week was negative to begin with. The market lost 2,668.38 points or 5.39 percent compared to previous week's close, eroding the market cap by Rs 494 Billion ($ 4.71 Billion).

The markets were occupied with the Prime Minister’s appearance in front of the Joint Investigation Team probing the Panama Leaks. Markets have received a severe blow in the last week due to the rising political noise in the country.

The decline in the international oil prices also continue to take their toll on the overall investor confidence in the market. The prices for WTI Crude futures have reached are at their lowest in the last half year or so despite OPEC cuts. The prices have nosedived ever since the boom in Shale exploration in the American continent which has led to an oversupply in the market.

The session witnessed a cumulative decline of 584.17 points or a 1.23 percent.

The index touched an intra-day high of 47527.41 and a low of 46733.70 points, and closed at a tally of 46858.56 points.

The net gainers during today’s session were; Wyeth Pakistan Limited WYETH +1.27%, Exide Pakistan Ltd. EXIDE +2.46%, Agirauto Industries Limited AGIL +4.58%, Murree Brewery MUREB +1.65% and Thal Limited THALL +1.87%.

The net decliners during the session were; Rafhan-Maize Products Limited RMPL -0.70%, Sanofi-Aventis Pakistan Limited SAPL -1.52%, Packages Limited PKGS -3.90%, Siemens (Pakistan) Engineering Company Limited SIEM -3.75% and ICI Pakistan ICI -2.28%.

All Share Volume decreased by 225.45 Million to 129.87 Million Shares. Market Cap decreased by Rs.108.94 Billion.

Total companies traded were 319 compared to 350 from the previous session. Of the scrips traded 98 closed up, 200 closed down while 21 remained unchanged.

Total trades decreased by 32,376 to 38,498.

Value Traded decreased by 4.18 Billion to Rs.7.47 Billion