KARACHI -  Range bound activity was witnessed at Pakistan Stock Exchange on Friday, as the index, after continuously juggling between an intra-day high of 120 points and intra-day low of 128 points, closed at 41,200.48 points after losing 51.69 points.

Some pressure was witnessed in the cement sector as the cement dispatches numbers released by APCMA for the month of September 2016 showed MoM decline of 14.70%. LUCK (down 2.16%) and MLCF (0.88%) were major losers of the aforementioned sector. OGDC (up 0.51%) and POL (1.06%) in the E&P sector gained to close in the green zone as crude oil prices traded comfortably above $50 for most part of the day.

TREET (down 2.22%) lost value to close in the red as the company posted decline in its bottom line in its FY16 result announcement. In its result, the company declared consolidated EPS of Rs1.59/share along with a final cash dividend of Rs1/share, said analyst Nabeel Haroon.

Volumes decreased by 40.3% to 462m shares, while value decreased by 21% to Rs14.3b/$137m. BOP and SMBL led the volumes with combined traded volume of 87m shares. Interest was seen in SNGPL as OGRA estimated lower than estimated UFG disallowance of Rs7b for FY17. The stock gained 4%. With WTI crossing $50/barrel, interest was seen in local oil stocks with OGDC and POL gaining 0.6% and 0.8%, respectively, brokers said.