Market awaits for approaching new lows

The terribly alarming volatility of the index did not allow investors to follow a set course as no one is sure how would it be have the very next moment as was reflected by a modest turnover figure,  analyst Ch Anwarul Haq said.
"Worries about the economy and rumors of heavy taxation in the new budget are also there but the immediate concern of the market appears to be the absence of leading punters," he added.
However, all was not had with the broader market as plus signs dominated the list under the lead of Fazal Textiles and Azgard Nine (non-voting lot), a combination of textiles, and fertilizer producer, which rose by Rs31.68 and 40 respectively.
They were followed by Central Insurance, Atlas Battery, Shell Pakistan, EFU Life, and JS & Co, which posted gains, ranging from Rs7.49 to 27.76.
EFU General and Colgate Pakistan, off by Rs28 and 28.90, followed by Pakistan Reinsurance Co, Sapphire Textiles, Atlas Honda, Attock Petroleum, National Foods, Shezan International, Packages, AKD Capital, Adamjee Insurance and MCB Bank, which suffered fall, ranging from Rs7 to 19.25.
Trading volume posted a modest rise at 199m shares from the previous 185m shares as gainers held a comfortable lead over the losers at 159 to 140, with 26 shares holding on to the last levels.
The most active list was topped by |PTCL steady by five paisa at Rs45.50 on 20m shares, followed by Nishat Mills, sharply lower by Rs5.77 at Rs109.73 on 12m shares, Engro Chemical, up 60 paisa at Rs330.60 on 8m shares, MCB Bank, sharply lower by Rs19.25 at Rs365.85 also on 8m shares, Arif Habib Securities, lower by Rs1.02 at Rs179.13 on 7m shares, D. G. Khan Cement, off Rs4.50 at Rs94 also on 7m shares, OGDC, easy by 35 paisa at Rs132.60 on 7m shares and Attock Refinery, higher by Rs5.30 at Rs292.05 on 6m shares.
Other actives were led by JS Bank, steady by nine paisa at Rs19.79 on 6m shares, followed by Bank of Punjab, up Rs1.44 at Rs55.92 on 5m shares.