KARACHI: Stocks closed another session with almost no change in KSE-100 index in lacklustre and range-bound trading on Thursday.

The market was rife with rumours over the Panama­gate verdict and Interior Minister Ch Nisar Ali Khan’s press conference which was held after trading hours.

Just for academic interest, the KSE-100 index shed 2.63 points (0.02 per cent) to close at 45,906.

The volume fell further by 10pc over the previous day to 159 million shares, while the traded value shed 24pc to Rs6.3 billion.

Top traded stocks were BOP, ANL, TRG, KEL and ASL with combined turnover 57m shares (36pc of total volume)

Top 5 index point performers were identified by Topline Securities as Nestle which gained 4.9pc, HUBC 1.7pc, BAHL 2.5pc, OGDC 0.6pc and ABOT 4.9pc, adding 117 points. Lucky Cement lost 1.1pc, DAWH 1.5pc, UBL 0.7pc, ENGRO 0.9pc and HBL 0.4pc, taking away 66 points.

On the sector front, food added 41 points, power 27 points and E&P 15 points.

On the flip side, fertiliser shed 26 points, cement 19 points and OMC 17 points.

Indus Motor gained 2pc as it announced price increase on various models. “Market is expected to remain under pressure on Friday due to the last day of the rollover week,” said dealers at JS Global.

“We see lacklustre trading with investors mainly tracking flows while domestic politics will continue to remain a drag until the court announces Panama verdict,” wrote Elixir Securities in its day-end report.

Meanwhile, Intermarket Securities predicted: “As the result season unfolds, we expect heavy weights to pull the index while offsetting negativity from Supreme Court verdict. That said, thin participation might persist in the medium term as modicum of clarity emerges.”

Published in Dawn, July 28th, 2017