Zubair Yaqoob
Karachi
Index lost another 100pts, after an oscillation of +73pts and -257pts, but maintained the 34k level. Largely, Oil and Gas chain and Auto sector kept the index under pressure, which was due to lower international crude prices. Second day of FATF proceedings, on the whole, gave positive vibes that helped investors maintain interest.
Brokerage commission, which also proved to be an issue yesterday had a slight impact on the activity. Volumes, nonetheless, inched up over the day. Cement sector again led the volumes with 27.5M shares, followed by Technology (26.7M) and Chemical (18M) stocks.
Technology sector stocks have lately been in the limelight for some time now, courtesy of WTL. Among scrips, WTL led the table with 18.3M shares, followed by FCCL (14.3M) and LOTCHEM (8.7M). The Index closed at 34,084pts as against 34,186pts showing a decline of 103pts (-0.3% DoD). Sectors contributing to the performance include E&P (-59pts), Power (-45pts), Fertilizer (-18pts), O&GMCs (-12pts) and Chemical (+7pts).
