Pakistan equity market remains range-bound, as the benchmark index closed at 47,135 (0.03%/DOD), accumulating 11.86 points. The key index floated between a high of 47,272.88 and a low of 46,928.16. The market looks to be in the consolidation phase due to a lack of triggers. Although the Pakistan remittances saw an increase of 1% in the month of July compared to June, the yearly remittances decreased by 2%. The all shares volume stood at 368mln (9%/DOD), reflecting investor’s caution towards trading. We anticipate the volumes to remain lackluster before any dominant trend emerges. The volume leaders for today were WTL (43mln), TELE (29mln), ANL (28mln), TPL (20mln) and GGL (15mln).