LAHORE - Pakistan Stock Exchange closed marginally down in Monday’s trading session despite making an intra-day high of 44,244 points (+313 points) after rupee devaluation in the inter-bank market. The 100-share index ended at 43,941.16 points, down 16.95 points.

Positive momentum was seen in early trading hours as Pak rupee lost value by around 4pc against the USD in the inter-bank market. The market later succumbed to profit-taking as investors looked to book profits. It is to be noted that market has already rallied by 2.5pc in the current caretaker setup (month to date).

BOP, PAEL, KEL, FCCL and DGKC remained volume leaders with total cumulative volumes of 52m shares. Total traded volumes/values were down 30pc/-14pc, respectively in yesterday’s trading session.

Amongst the major sectors, cement & engineering sectors withheld 152 points from index whereas commercial banks & E&Ps added 142 points to the index.

Faysal Bank (FABL) notified the exchange regarding its plan to convene an AGM to get approval for 1) acquisition of 50pc voting shares of Faysal Asset Management from Islamic Company of the Gulf at Rs30/share, 2) acquisition of 19.99pc voting shares of Faysal Asset Management from Razi-ur-Rehman at the rate of Rs30/share, and 3) capital support of the amount of Rs280m to Faysal Asset Management, associated company of FABL. Sazgar Engineering (SAZEW) has also announced its sales units and production units of 1,803 & 1,544 units, respectively for the month May 2018.