Karachi, March 04, 2021: Throughout the day, the KSE 100 remained in bearish momentum as the result of senate elections wreaked havoc on sentiment.
Selling pressure was witnessed across the board where stocks such as LUCK (-2.5 percent), TRG (-3.3 percent), BAFL (-1.7 percent), HUBC (-1.7 percent), FFC (-1.3 percent) and UBL (-2.2 percent) lost value during the trading session.
Top volume holders of the bourse were KEL (-4.1 percent), TRG (-3.3 percent), GGL (5.2 percent), BYCO (-5.6 percent), WTL (-7.2 percent) & UNITY
(-4.6 percent), which collectively contributed 145 million shares to the total volume.
Refineries and Cements sectors came under the hammer where NRL (-3.0 percent), ATRL (-3.9 percent), PRL (-5.0 percent), KOHC (-3.9 percent), DGKC (-3.7 percent), CHCC (-3.5 percent), PIOC (-4.1 percent) and MLCF (-3.6 percent) closed lower.
Steel sector followed the same trend where MUGHAL (-4.4 percent), ASL (-4.8 percent), INIL (-3.5 percent) and ISL (-3.8 percent) lost value to close in the red trajectory.
Moving forward, we expect a similar trend amid political uncertainty. We recommend investors to avail any downside as a buying opportunity in cements, steels and refinery sectors.
