KARACHI

Bearish trend persisted in Karachi shares market on second consecutive day on Tuesday and the bench mark KSE-100 shares declined 25.66 points and to close end of the day at 32,983.47 points.

The benchmark KSE-100 index declined 500 points in early hours of trading today.

However, the index recovered through the day on the back of cement and auto sector stocks and closed 0.1% down at the 32,983 index level, stated dealers at sales desk Topline brokerage.

Announcement of price increase of 5k-15k by PSMC and expectation of better than expected sale saw renewed interest of investors in the auto sector. The scrip increased 1.8% as a result.

Upcoming projects under CPEC and expectation of better than anticipated sales growth kept cement sector in the limelight. DGKC was up 0.7% and MLCF was 1.1% up, analysts said. Today’s traded volume rose to 142mn shares as compared to 109 mn changed hands yesterday while value also increased to 8.5bn.

Of total 326 companies active in the session, 126 concluded in advance, 171 in decl9ne while 29 went unchanged.

Major activity witnessed in the stocks of Pak Elektron, TRG Pak and Maple Leaf Cement with traded volume 17.4mn shares, 10.5mn and 8.2 mn shares respectively.