KARACHI - Pakistan Stock Exchange resumed the downward journey on Monday, the first trading day of the week. The 100-share index lost 41.14 points (0.10%) to close at 39457.95 points.

Volatility prevailed in the stock market on the first day of the futures rollover week as the index remained under pressure throughout the day, dealers said. The oil sector came under pressure as global crude oil prices fell after the longest run of gains in four years. Biggest laggards of the sector were OGDC (down 0.83%) and PPL (0.48%). Marginal positivity was witnessed in the  ement sector that closed on a flattish note, where LUCK (up 0.33%) and MLLCF (1.36%) rallied on back of news that tax exemptions will be given for motorway machinery import. Rally in the pharmaceutical sector was attributed to news that DRAP (Drug Regulation Authority Pakistan) is likely to agree to further increase in drug prices, where SEARL (up 1.67%) and GLAXO (2.42%) were the biggest index mover in the aforementioned sector, observed analyst Ahmed Saeed Khan at JS Global.

Volumes declined by 14.6% to 186m shares, while value also declined by 39% to Rs7.1b/$68m. KEL led the volumes with 25m shares traded.

MUREB announced 10Rs cash dividend along with 1500% bonus which led the stock to hit its upper limit. Cement stocks like DGKC, MLCF and LUCK declined during the day but recovered in the end to close up between 0.1% to 1.7%, stated dealers at Topline Securities. Brokers expect the volatility to persist in the market.