KARACHI

Activities at Karachi stock market on Wednesday remained lacklustre as major index heavy weight sectors like oil and bank remained depressed.

The benchmark KSE 100-share index lost another 15.21 points to close at 32968.26 points.

The index started in negative and juggled between red and green and finally settled in negative zone, market analysts said.

Cement sector continued to witness positive rally as investor believed that sector earnings would improve on the back of healthy sales and upcoming CPEC projects.

Gharibwal Cement went up by 5%, Kohat Cement 1.22% and Lucky 0.28%, observed Muhammad Rizwan at Topline Securities.

News related to contract of FEROZ Pharmaceutical with Punjab government helped the stock to close at upper circuit. Along with FEROZ, other pharmaceutical companies also remained in lime light as SEARL, GLAXO were up 5% and ABOT 3.23%.

Traded volume was down by 29% to 100.5m shares and traded value declined by 19% to Rs6.9b.

Total 320 companies participated in the session of which 132 closed in advance, 176 in decline while 21 remained unchanged.