KSE-100 sheds 389 points

603

Zubair Yaqoob

Karachi

Market finally took some correction on Tuesday when the index slid by ~400pts and closed the session at -389pts. Selling pressure was mainly observed in Banks, but was otherwise felt in Autos, E&P, Steel and Cement sector as well. Refinery sector performed well with ATRL and NRL hitting upper circuits. The main idea behind selling appeared profit booking, where the index crossed psychological barrier of 40K. Cement sector led the trading volumes with 62M shares, followed by Technology (51.2M) and Power (50.1M). Among scrips, KEL realized 42.8M shares I trading volume, followed by TRG (25.3M) and BOP (19.1M). The Index closed at 39,735pts as against 40,124pts showing a decline of 389pts (-1% DoD). Sectors contributing to the performance include Banks (-116pts), Cement (-80ps), Fertilizer (-67pts), O&GMCs (-21pts) and Chemical (-21pts).