Zubair Yaqoob
Karachi
Market traded largely in a narrow band, oscillating between +155pts and -124pts, and ending the session +114pts (unadjusted). Low volumes were witnessed amidst selling pressure in Cement, Steel, Banking sectors. Concerns over activity on Borders with India, political uncertainty due to JUI (F)’s protest and FATF reverberated today. Chemical sector led the volumes with 13.4M shares, followed by Cement (10.9M) and Technology (7.5M). Among scrips, LOTCHEM garnered 10.8M shares in trading volume, followed by TRG (4.1M) and FFC (3.4M).
Market seemed to lack luster, paying little interest in better than expected results announced recently. The Index closed at 33,199pts as against 33,085pts showing an increase of 114pts (+0.3% DoD).
