KARACHI – Bearish sentiments prevailed at Pakistan Stock Exchange on Thursday, the first trading day after Eid holidays.
The benchmark 100-share index, after witnessing a volatile session, lost 113.95 points (0.28%) and closed at 40,216.35 points.
Volumes for the day accumulated to 531m shares versus 638m shares of the previous session while value decreased by 29% to Rs11.4b/$109m where third-tier stocks continued to attract the higher volumes.
Pressure was seen in the oil sector on the back of depreciating global crude oil prices as Libya and Nigeria are to gear up to increase production in the upcoming week. Biggest laggards of the oil sector yesterday were OGDC (down 2.34%) and POL (1.44%). Marginal positivity was witnessed in the cement sector where major gainer of the day in aforementioned sector was BWCL (up 1.80%).Overall, the arket sentiment remains volatile, observed analyst Ahmed Saeed Khan.
PACE and BOP led the volumes with 92m shares traded. Both stocks closed at their upper limits of 5%. Global crude fell which led OGDC and POL to decline by 1.1% and 2.1% respectively, said dealers at opline brokerage. Out of total 422 traded companies in the session, 232 closed in green, 180 in red while 10 remained unchanged.