Karachi Stock market on Tuesday witnessed a lackluster day as investors in the international market await a key meeting of the US Fed later this week. The benchmark KSE-100 Index shed 16.81 points to close at 33,843.83 points.

Tumbling oil and selling by foreigners further dented the market’s sentiment, stated analyst at Topline Securities. Below than expected result of FFBL led the stock to close down by 2.2pc.

Traded volume today decreased by 12pc to 127m shares while traded value increased by 9pc to Rs8.0b/ $76m.

Oil sector remained depressed as Iran is preparing to increase shipments at a time when crude prices are near six-year lows amid a global glut by US shale boom.

In the fertilizer sector, FFBL spiked down 2.72pc after the company announced its quarterly financial result (EPS Rs0.19 against EPS Rs1.03 last year).

In the banking sector, FABL went down by 1.54pc after the bank announced its 9M2015 result today posting a PAT of Rs3.37b (EPS: Rs2.81), against PAT of Rs1.42b reported in 9M2014. Earnings came below market expectations on lower than expected Non-Interest Income. UBL down 0.12pc announced its 9M2015 result today posting a PAT of Rs19.84b (EPS: Rs16.21), up 16pc YoY. Earnings growth was led by improvement in core income where NII posted 27pc YoY growth, attributable to expansion in NIMs, observed analyst Arhum Ghous.

Major volume leaders were PAEL, PACE, BYCO and BAFL with traded volumes of 13.3m, 11.7m, 6.5m and 5.7m shares, respectively. Dealers expect the market to remain range bound due to roll-over week.