KARACHI: The KSE-100 index on Monday managed to gain 235 points (0.52 per cent) to close at 45,529.20.

Market participants tried to spread the word that the worst was over, but no one was willing to take fresh positions, regardless of attractive valuations. The rollover week further limited the upside on certain stocks.

The volume declined 14pc over the previous session to 106 million shares, while the traded value was down 22pc to Rs5.4 billion.

Small-cap companies TRG, ANL and BOP, which together saw trading in 36m shares, represented a third of the aggregate volume.

Elixir Securities stated that selective institutional trading was noted and most retail investors refrained from participating amid looming verdict of Panama Papers case.

In line with expectations, weekend monetary policy announcement with State Bank of Pakistan maintaining the benchmark-borrowing rate at 5.75pc had no impact on the market.

The index moved between intraday low of 23 and intraday high of 272 points.

“Top 5 index-point performers were Nestle which was up 4.2pc, MCB 1.2pc, DAWH 1.6pc, Engro 0.7pc and TRG 3.3pc, adding 97 points; while MARI was down 1.6pc, PMPK 5pc, BAHL 1.1pc, FCCL 0.9pc and UBL 0.2pc, taking away 39 points from the index,” said dealers at Topline Securities.

On the sector front, fertiliser added 49 points, food 43 points, OMCs 26 points, banks 18 points and tech 16 points, while tobacco shed 9 points.

Analysts at JS Global noted that the E&P sector stocks including OGDC 0.33pc, POL 0.85pc, and PPL 0.52pc closed in the green zone as oil prices increased globally after the OPEC committee meeting.

Published in Dawn, July 25th, 2017