‘Zubair Yaqoob
Karachi
Market saw some profit booking Monday on the back of developing situation on international front and reclining oil prices, which also came down after posting significant gains last week. E&P and OMCs traded considerable volume and largely maintained a higher average than last trading session. Banking sector stocks, on the other hand, posted loss amid low volumes. Prospect of rate cut kept the selling pressure on Banks which caused the index to decline by -402pts during the session. Cement sector led the volumes with 43.5M shares, followed by O&GMCs (21.7M) and Technology (21.7M). Among scrips, MLCF topped the volumes with 18.3M shares, followed by HASCOL (13.6M) and UNITY (12.2M). The Index closed at 33,916pts as against 34,112pts showing a decline of 195pts (-0.6% DoD). Sectors contributing to the performance include Power (-88pts), Cement (-51pts), Banks (-46pts), Fertilizer (-23pts), E&P (-18pts) and O&GMCs (+24pts).
