LAHORE - The bourse closed its week on a negative note as benchmark KSE-100 index closed 5 points lower at 40,869 levels.

PSX made an intraday low of -219 points in yesterday's trading session. Traded volumes remained dull with 123mn shares changing hands, down 23 percent from the last session. DCL (+4.92 percent) and MLCF (+4.48 percent) led the volume with almost 15mn shares changing hands.

On the economic front, Foreign exchange reserves held by the central bank continued to spiral downwards for the 13th successive week as they fell 2.62 percent on a weekly basis.

Cement sector contributed +110 points to the index where LUCK (+4.68 percent), DGKC (+3.49 percent), MLCF (+4.48 percent), DCL (+4.92 percent), CHCC (+2.15 percent) and KOHC (+2.06 percent) closed in the green zone. E&P sector continued its downward trajectory as crude oil prices edged lower in the international market.

POL (-2.32 percent), PPL (-1.77 percent) and OGDC (-1.34 percent) were the major loser of the mentioned sector. Moving ahead, the market is expected to remain under pressure as roll over week starts on Monday. Monetary policy is also to be announced next week so we recommend investors to go for consolidation and view any downside as an opportunity to buy cement and banking stocks.