Bourse declines 212 points


ZUBAIR YAQOOB KARACHI Similar to what was witnessed on Thursday, Market opened on a positive note with +139pts and closed the session in red on Friday, with -180pts. During the sessions, the index lost 361pts in total but last hour of trading saw some recovery with PSO showing some life, as the news related to Sukuk II broke. Overall, selling activity was observed across the board barring few scrips in Banking sector. LOTCHEM announced relatively better results, however, concerns over product margins caused Investors to sell positions. Despite having two sessions the trading volumes declined significantly over the day. Transport Sector led the volumes on the bourse with 19M shares, followed by Chemical (15.3M) and Technology (13.4M). Among scrips, PIBTL realized 17.5M shares, followed by LOTCHEM (13.1M) and HASCOL (9.1M). The Index closed at 40,243pts as against 40,455pts showing a decline of 212pts (-0.5% DoD). Sectors contributing to the performance include E&P (- 49pts), Tobacco (-38pts), Inv Banks (-31pts), O&GMCs (- 28pts), Fertilizer (-23pts) .