LAHORE - Negativity prevailed around the clock as the index lost 462 points to close at 43,136 levels, owing to jitters from the political backdrop and last day of futures rollover. Volumes remained lackluster as 110 million shares changed hands. PAEL (-4.69 percent) from the cable and electrical goods sector led the market volumes with 11.5 million shares traded in the scrip.
On the economic front, the currency swap arrangement between the State Bank of Pakistan (SBP) and People's Bank of China (PBOC) has been extended for 3 years. In the extended agreement, both the central banks have agreed to increase the CSA amount from CNY 10 billion to CNY 20 billion and from Rs 165 billion to Rs 351 billion.
Friday's major laggards were HBL (-2.32 percent), PSO (-2.37 percent), LUCK (-1.40 percent), HUBC (-1.45 percent) and NML (-2.53 percent) as they cumulatively wiped away -134 points from the index. On a sector wise level, commercial banks showed mixed sentiment, where MCB (+0.28 percent) closed positive and on the flipside HBL (-2.32 percent) and FABL (-2.31 percent) closed in the red zone.
Cement sector remained under the hammer for third consecutive day where CHCC (-2.94 percent), FCCL (-2.04 percent), MLCF (-1.03 percent), LUCK (-1.40 percent) and DGKC (-1.41 percent) lost value to close in the red zone. POL (-0.95 percent), PPL (-0.24 percent) and OGDC (-0.52 percent) from the E&P sector shed points as crude oil prices edged lower in the international market. Moving forward, it is expected market to remain volatile with flows from local institutions and foreigners directing the market.