KARACHI: The Pakistan Stock Exchange (PSX) Monday started new week with bearish note and added 101.52 points to reach 31395.60 points level in early trading.
Last week, the overall sentiments remained volatile due to uncertainties and lack of triggers in the market. Concerns attached to continuity of strong profitability of key sectors such as cements (+0.3 percent WoW) and banks (+0.1 percent WoW) kept bulls on a leash during the first half of the week but fizzled out as results came out better than expectations. Other major sectors such as autos and chemicals also showed similar trend and apparently mimicked performance of the oil & gas sector with average traded volume of the market also inching up by 11.5 percent WoW.
Average daily volume increased by 12 percent to 138.2mn shares while average daily value fell by 6 percent to Rs6.2bn/$59.5mn.On a sector level, Oil & Gas, Multiutilites and Tobacco were among the major gainers increasing 3.2-5.5 percent over the week. General Industrials and Food Producers were major losers having declined 6.0 percent and 2.6 percent in the outgoing week.
