KARACHI - Pakistan Stock Exchange (PSX) witnessed another range-bound session Thursday due to futures rollover. The benchmark KSE-100 index made an intra-day high of 150 points and a low of 240 points and finally closed at 41,409 points by losing 186 points.

The pressure was seen as ex-premier’s bailable arrest warrants were issued for non-appearance in the NAB court. Also, a few dismal financial results announcements dampened investor sentiments, dealers said.

Institutional support was witnessed in selected cement, banking and pharma stocks on rising local cement prices, upbeat financial results and levy of higher regulatory import duties. Concerns over dismal economic outlook and surging trade deficit played a catalyst role in bearish close, said analyst at Arif Habib Corp.

OGDC (down 0.93%) from the E&P sector announced result for 1QFY18, where the company posted an EPS of Rs3.95 and announced a cash payout of Rs1.75/share. ENGRO (up 0.05%) declared its result for 9M2017, positing an EPS of Rs13.20 with a cash dividend of Rs7/share. NCPL (down 0.90%) and NCL (5%) announced result for 1QFY18, where NCPL posted an EPS of Rs2.44 and NCL posted a loss of Rs0.40/share. SEARL (up 2.96%) from the pharmaceutical sector gained to close higher as the company announced its 1QFY18 result, where the company declared an EPS of Rs5.15, stated JS Global report.

Top 5 index point contributors were FFC (up 2.1%), HUBC (0.9%), SEARL (3%), PAKT & PKGS (up 3%), adding 76 points, while top 5 index laggards were SNGP (down 4.6%), OGDC (0.9%), PAEL (5%), PIBTL (4.5%) & ISL (3.7%) withholding 100 points from the index.

Sector wise; oil & gas marketing companies detracted 50 points, commercial banks took away 47 points and oil & gas exploration companies eroded 43 points. While cements and fertilizer cumulatively added 50 points to the index.

Average market volumes were up 36.2% DoD to 139.8m shares, while the traded value was up 26.5% at Rs7b/USD 65.5m. Volume leaders for the day remained ANL, PAEL, ASL, BOP and TRG, which cumulatively contributed to 33.6% of total volumes.