KARACHI

The market on Monday continued its bearish momentum to shed 147 points lower at 33,796 level.

Volumes remained lackluster. Cement sector remained depressed with profit-takers dominating the day.

MLCF, LUCK, DGKC, FECTC and CHCC all ended lower due to rise in international coal prices. FCCL witnessed a slight surge amid financial announcement of EPS Rs1.21 and a dividend payout of Rs1.0/share, slightly higher than market expectations. Engro family continued its downward run with Engro Corp ending 4.5pc lower prior to its upcoming financial result.

Pressure was witnessed in the automobile sector with Exide, INDU, HCAR and PSMC all significant scripts ending substantially lower in today’s trade, commented analyst Arhum Ghous at JS Global.

Bearish activity witnessed at KSE in a volatile session at KSE on institutional profit-taking on weak earnings outlook. Uncertainty in global commodities, rising coal prices and consolidation post earning announcements played a catalyst role in bearish activity at KSE despite support in selected auto, cement stocks after strong sales growth in Jan’15, stated analyst Ahsan Mehanti.

Substantial turnover was witnessed in the stock of PIA, Fauji Cement, Jah.Sidd.Co, Bank of Khyber and Pak Elektron.

PIA was volume leader in the market with 17.99m shares and price per share Rs9.26, followed by Fauji Cement with 16.28m shares and price per share Rs31.68 and Jah, Sidd.Co with 15..87 shares and price per share Rs22.39 were in spotlight in the market. Pak Cables Ltd with per share price Rs174.76 (8.32), The Searle Company with per share price Rs257.85 (12.27) and Pakistan Services Ltd with per share price Rs449.00 ( 21.15) were among top gainers in the market.

While EFU General Insurance with per share price Rs148.24 (-7.77), EFU Life Assurances Ltd with per share price Rs174.01 (-8.94) and Engro Corp Ltd with per share price Rs267.93 (-12.66) were among the top losers in market.