Even though the index gained 180pts at the open of trading , it failed to sustain the gains, the rally fading away quickly, and closing well into negative zone, to close at 33566 down 400pts (1.18pc). Profit taking pushed cements lower by 2-4pc. Banks , Fertilizers and E&P companies also edged lower.
Volume leaders were TRG, BYCO, JSCL, PIAA and DCL
TELE, ANL, DSFL were the worst hit coming off by almost 7pc. A range of small cap stocks got beaten down today after rallying last week.
Political noise post Panama papers leak seems to be on the rise. We look forward to a positive earnings season for cement stocks. Oil could find support should OPEC agree to freeze output in a meeting scheduled for April 17.
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