LAHORE : Volatility prevailed Wednesday at the Pakistan Stock Exchange with relatively lower volumes of 131 million shares.

The KSE-100 index made an intra-day high of +316 points and an intra-day low of -68 points to finally close at 42,772 points, up by 27 points. Profit-booking was seen in the market where investors started reducing intra-day positions. Despite mundane activity in the market, market appeared to consolidate as prices have fallen down to extremely attractive levels.

Commercial banks' heavyweights closed mixed cumulatively contributing +46 points to the index. MCB (+1.34%), NBP (+2.81%) and ABL (+1.11%) closed in the green, while on the flipside HMB (-0.45%), HBL (-0.06%) and UBL (-0.67%) closed in the red zone.

On the other hand, losses in the E&P sector dragged down the benchmark index by -25 points as oil closed lower pulling back from its strongest levels in three-and-a-half-years. OGDC (-0.46%), POL (-0.53%) and PPL (-0.28%) were the major losers in the aforementioned sector. Cement sector remained under pressure where heavyweights such as LUCK (-1.21%), DGKC (-0.99%), FCCL (-0.43%) and PIOC (-0.55%) lost value to close in the red zone. Volume leader for the day was FABL (-0.08%), with 18 million shares of the bank changing hands. Moving forward, market experts expect market to remain volatile.

 with flows from local institutions and foreigners directing the market.