Pakistan bourse observed a negative sentiment during today’s session, as the benchmark index tanked 38.95pts ( -0.08%). On the macro-economic front Pakistan remained a net importer and the forex reserves recorded an all-time high liquidity on the back of fresh IMF funding; On the other side of the picture, Pakistan bourse was downgraded to frontier market (FM), positioning Pakistan as one the most liquid exchange in FM space. The benchmark index observed a high of 47,087.30 and a low of 46,888.95 where it closed at 46,918.52. The All share volume stood at 417 mln, depicting investor caution towards trading. We anticipate the volumes to remain lackluster before any dominant arrives. The volume leader for today were TPL(57mln), SERFR(36mln), TELE(31mln), WTL( 29mln) and ANL(15mln)