Correction persists: KSE- 100 index drops 56 points

Amanullah Khan

Karachi—Correction spell continued on the third consecutive trading session at Pakistan Stock Exchange where KSE-100 Index lost yet another 56 points to close in red at 39,390 levels here on Friday. However the market volume improved at 262 million shares where K-Electric was top performer with a trade of thumping 88 million shares to their credit, other two top volume leaders were including Dewan Cement and Dewan fiber with respective trade of 28 million and 18 million shares to their credit.
Meanwhile the cement sector on the back of CPEC Project as well a local demand continued to be the investors choice, which has encouraged the cement sector for capacity expansion. In this respect, Lucky Cement is expected to commence of operations of Congo cement plant by end-Sep-16, commissioning of 10MW Waste Heat Recovery (WHR) by Dec-16, and clarity on financial close of Lucky’s 660MW coal power project.

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