The market correction trend continued into its third consecutive session as the KSE-100 index closed 65 points down to finish the day at 11,883 points. The market did have its upswings during the day and at one point breached the 12,000 point barrier before settling at its eventual close.
Volumes remained on the uptick as 95.5m shares were traded with cement giant DGKC leading the pack with 10.7m shares. Despite surpassing analyst expectations with Rs11.53/share earnings result, Fauji Fertiliser Bin Qasim Limited did not command a price rally, closing 0.6 per cent down from yesterday.
With expectations of a strong results season in store, the cement sector ended the day on a high note with strong daily gains recorded by LUCK, DGKC and ACPL. With results announcement dates pouring in, the local bourse will be buzzing with activity as investors shop for their top picks, said Ali Hussain, Senior Investment Analyst at HMFS. The KSE 100 index closed at 11883.92 levels with the loss of 65.83 points, while KSE 30 index lost 23.15 points to close at 11108.97 levels. All Share index closed at 8237.84 levels after losing 42.05 points. Total 94 scrips advanced 137 declined and 93 remain unchanged out of total 324 scrips traded.
