Market Close !

Equities witnessed yet another volatile session as market opened in green zone but soon slipped into the negative on the back of disappointment on yesterday's Monetary Policy announcement. This see-saw trend continued throughout the day as the index finally shed 125 points at day end on the last of the quarter. Surprisingly, market volume in the benchmark index was dominated by second tier stocks with OGDC being the only blue chip amongst the top ten volume leaders. MCB took a hit as news that government was creating hurdles in MCB bank's deal of taking over of Royal Bank of Scotland over non-cooperation by MCB Bank to resolve the issue of circular debt in energy sector hit wires.Although equities are expected to remain volatile for the remainder of this week and we recommend accumulation below 9250. POL FY09 results and ATRL's result are set to be key triggers for tomorrow. POL is expected to post FY09 earning of PKR24.2/share, a 23% YOY decline and a final cash dividend of PKR4.5/sh, bringing the full year payout to PKR12.5/sh.