Zubair Yaqoob
Karachi
Following the trend of past 3 months, market slid again following the close of rollover week and saw index slip by a total of 405pts, ending the session with -172pts. E&P, Banks and Power sectors contributed to the decline in index, where selling pressure was observed in HUBC, MCB, HBL, UBL, POL and PPL. Cement sector again led the volumes with 8.8M shares, followed by Engineering (8.7M) and Banks (3.7M). ISL became the volume leader with 5M shares, followed by MLCF (4.5M) and FCCL (2.1M). The Index closed at 31,666pts as against 31,839pts showing a decline of 173pts (-0.5% DoD). Sectors contributing to the performance include Banks (-115pts), E&P (-64pts), O&GMCs (-26pts), Food (+16pts) and Power (-12pts). Volumes declined from 70.6mn shares to 46.4mn shares (-34% DoD). Average traded value, on the other hand, registered a slight increase of 1.5% DoD to reach US$ 12.8mn as against US 12.6mn. Stocks that contributed significantly to the volumes include ISL, MLCF, FCCL, MUGHAL and PAEL, which formed 33% of total volume, Stocks that contributed positively include HUBC (+12pts), NESTLE (+10pts), LUCK (+9pts), ISL (+5pts) and PKGS (+4pts). Stocks that contributed negatively include PPL (-40pts), HBL (-32pts), MCB (-26pts),
