KARACHI - Stocks closed another trading week with negative session as benchmark concluded at 43,011 points, declining by 61 points.

Trading started on a positive note but at a slow pace. News of US imposing tariffs on import of steel dampened the mood in steel sector scrips and the same negativity carried through in blue chip scrips, including banks, cement and fertilizer.

Professional money managers maintain bearish sentiment with negative outlook in the remainder of March. Most of the positive news appearing in press since last week have lived short and got discounted. PAEL saw significant volumes at rates close to lower circuit.

Institutional selling is believed to have caused the trades on the expectation of poor results in 3QFY18. ANL also traded in high volume at lower circuit, which is believed to have caused by NAB investigation, said AHL brokerage report.

Sectors contributing to this performance include OGMCs, shed 36 points; commercial banks 30 points and technology eroded 15 points respectively.

Volumes declined from 163mn shares to 140mn shares (-14% DoD). Average traded value also declined by 18percent DoD to reach $54.5million as against $66.7 million Thursday.

Stocks that contributed significantly to the volumes include ANL, PAEL, UNITY, LOTCHEM and BOP reflecting 47percent of total volumes.

Scripts that contributed positively include PPL added 30 points, OGDC 21 points, POL 21 points, HBL 18 points and COLG contributed 14 points respectively to the index gain. Stocks that contributed negatively include MCB shed 28 points, DGKC eroded 19 points, PSO 15 points, TRG 12 points and DAWH took away 12 points from the index.