Stocks ended negative amid cautious activity in the post earnings announcements session at KSE on Monday.

The market opened on a positive note, gaining 154 points at the session’s start. However, volatility in regional markets and lukewarm participation in Pakistan Euro bond dampened investors’ sentiments. As a result, KSE-100 Index went down by 132.82 points or 0.4pc to close at 32690.02 points level. Trade was led by second and third tier stocks in the first session after Eid.

TGL’s disappointed result pushed investors to reduce their position in the stock. As a result, the stock closed at 3.98pc down, observed analyst at Topline brokerage. Profit-taking was seen in index heavy weight oil and chemical stocks Like, FFC, OGDC and Engro which were down by 0.7-3.0pc.

Initial interest was seen in the cement sector but later cherry picking and profit taking was witnessed in the sector, keeping only MLCF up 0.7pc marginally positive. Major scripts of the sector such as LUCK and DGKC closed 0.2pc and 1.3pc lower. On the back of better than anticipated published results the large auto manufacturers remained positive, where top gainers of the sector were Hino rose 5.0pc and GHNL up5.0pc. As the international crude continued to plummet, currently trading close to $48/bbl mark, the E&P sector with a slight initial rally witnessed pressure, where major laggards of the sector were NRL down 0.8pc, ATRL decline 1.0pc) and APL by 1.9pc respectively, commented analyst Ahmed Saeed.

Concerns for falling global stocks and commodities, political investigations played a catalyst role in bearish sentiments despite positive economic outlook and oversubscription in the $500m 10-year euro bond issue, stated analyst Ahsan Mehanti.

Traded volume declined to 110.9m shares (down 15pc) while traded value declined by 9pc to Rs4.7b/ $45.4m.

Major activity was restricted to mid cap stocks like BYCO, KEL, and TRG with traded volumes of 14m, 12m and 6m shares respectively.