KARACHI

The Karachi shares market continued its sluggish performance on Monday, first day of the week, and posted a loss of 125 points to close at 33,733 points.

SSGC remained the star performer on the back of expected announcement of its board meeting, as it appreciated by 5% to close the day at 41.93 with a handsome volume of 5.6m shares, observed dealers at Topline brokerage.

Cement stocks faced the burnt as the authorities have been planning some new tax measures.

Traded volumes decreased by 21% to 143m shares compared to 182m shares ofs last week, while traded value increased by 3.3% to Rs6.1.b/$57m.

Stocks closed lower amid cautious activity on falling global crude prices and status quo in the SBP policy announcement on Saturday, stated analyst at another brokerage. Investor fear on foreign selling, volatile global stocks and profit taking in leveraged scrips played a catalyst role in bearish close. Out of total 376 trade companies in the session 122 concluded in advance, 231 settled in decline while 23 went unchanged.

Some small caps like TRG, PACE, BOP and SILK topped the most active chart with 15.4m shares, 14.2m shares, 9.5m shares and 8.8m shares respectively.