LAHORE: The Pakistan Stock Exchange (PSX) saw bears coming back in action as indices traded range bound. Excitement over the tax reforms seemed to have calmed down and in absence of a healthy trigger, investors kept their distance from the market.
The KSE 100 index after elevating by 190.58 points early in the session dropped 107.56 points from the previous close. The index concluded the session short of 57.00 points at 46,580.62. The KMI 30 index climbed 306.66 points to begin the week but later fell to intraday low of 198.36 points. The index settled lower by 78.27 points while the KSE All Share index closed with a loss of 46.52 points. The advancers-to-decliners’ ratio stood at 184 to 166.
The market volumes declined to 202.79 million from 248.15 million in the last session. Fauji Cement Company Limited (FCCL +2.08 per cent) was leader in terms of volume and had 18.50 million shares traded. Engro Polymer and Chemicals Limited (EPCL +2.60 per cent) followed with 15.54 million shares exchanged and TRG Pakistan Limited (TRG +2.04 per cent) with volume of 13.44 million.
Crescent Steel and Allied Products Limited (CSAP +2.34 per cent) informed all stakeholders vide a notice to the exchange regarding award of contract by Sui Northern Gas Pipe line Limited (SNGP -0.56 per cent). The contract which is expected to be executed in the first quarter of 2019 is for the supply of 24 inch coated pipes amounting to Rs1.68 million.
