Zubair Yaqoob
Karachi
After making another stride of 368pts the index fell into bearish spell and saw erosion of gains made during the day, ending the session at a loss of 58pts (unadjusted). Cement sector that garnered the most trading volume on the bourse, traded green for most part of the session, but saw selling activity in LUCK. On the whole, Banking, Fertilizer and Chemical sector largely performed negative and was further contributed by E&P and OMCs, which saw selling pressure by the end of the session. Cement sector led the volumes with 44.6M shares, followed by Technology (33.4M) and Chemical (28.1M). Among scrips, UNITY saw trading volumes of 16.1M shares, followed by PAEL (16.1M) and TRG (14.6M). The Index closed at 36,766pts as against 36,803pts showing a decline of 38pts (-0.1% DoD). Sectors contributing to the performance include Power (+80pts), Autos (+17pts), Food (+16pts), Technology (+15pts), Fertilizer (-69pts), Banks (-49pts), E&P (-34pts) and INv Banks (-27pts). Volumes increased from 282.9mn shares to 292.1mn shares (+3% DoD). Average traded value also increased by 10% to reach US$ 64.3mn as against US$ 58.5mn. Stocks that contributed significantly to the volumes include UNITY, PAEL, TRG, ISL and FCCL, which formed 24% of total volumes. Stocks that contributed positively include HUBC (+58pts), INDU (+16pts), KAPCO (+14pts), TRG (+12pts) and DGKC (+12pts).
