Karachi, September 14, 2021: The KSE-100 index lost 379 points to close at the level of 46,891. Trading activity was mainly witnessed in side-board items. BYCO (-7.3 percent), TELE (2.0 percent), WTL (-3.0 percent), ANL (-0.2 percent) and HUMNL (1.3 percent) were the major volume contributors today.
The refinery sector was seen under immense pressure as The Cabinet Committee on Energy is said to have not approved the incentives for the refineries and consequently, ATRL (-7.1 percent), NRL (-6.2 percent), BYCO (-7.3 percent), and PRL (-5.5 percent) closed in the red zone.
On the other hand, the steel sector witnessed similar sentiments where ASL (-5.8 percent), ASTL (-3.7 percent), INIL (-2.6 percent), MUGHAL (-2.2 percent), and ISL (-2.3 percent) lost value to close in the negative region.
DGKC (-3.7 percent) from the cement sector announced the financial results for FY21 with a 10 percent final cash dividend and an EPS of Rs8.96 per share. Going forward, we recommend investors remain cautious and wait for significant dips for further buying.