KARACHI - Despite positive news flow with regards to the approval of the 18th amendment from the Senate and foreign exchange reserves crossing the $15 billion mark, the stocks ended marginally lower amid profit-taking by investors after the index hit a 20-month high a day earlier. The KSEs 100-share index ended 0.17pc, or 18.26 points, lower at 10,659.21 points. Volumes remained 49pc lower as compared to Thursdays. Cement stocks remained active on the back of cement dispatches, which are 13pc higher at 25m tons in the first nine months of FY10. Lukcy and DGKC closed 1.4pc and 1.8pc up, with volumes of 3.2m and 4.7m shares, respectively. Whereas, FFBLs 1Q2010 result (EPS Rs.0.87 and DPS Rs.0.50) failed to attract investors attention as it was in-line with the market expectation and hence closed 1pc down with volumes of 8.6m shares. However, POL increased by 1.4pc with healthy volumes of 6.1mn shares in anticipation of discovery in one of its fields and positive expectations from its 3Q results. Moreover, Tier II and III stocks remained as volume leaders with WTL, NIB and TRG generating 27.6m, 11.3m and 10.9m shares activity respectively. The recent run-up, initiated due to high interest shown by offshore participants, in case the stance of off-loading is due to result season an extended sale might therefore lead of massive erosion due to shallowness of the local bourse. The likelihood therefore led to a range bound session; local players however cautiously accumulated selected main board stocks, mainly those either ignored by offshore participants or some available at discounts in comparison to the other front line stocks of the sector. While some low priced stocks, having ingredients, those can lead to materialization of growth stories and rumours invited accumulation upon adjustment, thus providing some relief to the stuck ups. Lacklustre during the session added pressure towards the end, thus, forcing the market to stay in red zone on closing basis, despite healthy announcement by FFBL sellers over shadowed the buyers. Hasnain Asghar at Aziz Fida said, Focus should therefore stay on main board large cap stocks offering high yields and are available at low multiples, expensive stocks should be avoided for the time mainly those having high foreign exposure, post result scenario might allow a certain view.