Home Top News KSE-100 sheds 15 points

KSE-100 sheds 15 points

Zubair Yaqoob

Karachi

Market improved slightly and although the index oscillated between -209pts and +167pts (~350pts) the unadjusted closing came to +35pts. Last half hour of trading, as has been the case lately, was again interesting which saw buying activity in index drivers such as ENGRO, but also saw buying in SEARL, ABL that pulled up the index. Cement sector led the volumes table with 17.6M shares, followed by Power (11M) and Banks (8.8M). Scrip wise activity shows KEL topping the volumes with 7M shares followed by UNITY and MLCF. Cement sector has seen attrition since past week and on Tuesday was no different which saw key cement scrips trading at lower circuits for instance PIOC, MLCF, DGKC etc. Collectively, Banks and E&P scrips performed well on Tuesday, whereas O&GMCs (PSO), and Cement contributed to the downside.
The Index closed at 33,885pts as against 33,900pts showing a decline of 15pts.