LAHORE - The KSE 100-index of Pakistan Stock Exchange blew both hot and cold Wednesday, making an intra-day high of +151 points and an intra-day low of -285 points and finally closing down 76 points at 42,546 points.

Despite dull activity, market appeared to consolidate as prices have fallen down to extremely attractive levels. Volumes improved by 11% DoD to 134 million shares, compared to 120 million shares in the previous trading session. BOP (+1.26%) was volume leader as more than 11 million shares of the company exchanged hands. Major laggards were HBL (-2.67%), MCB (-1.87%), and LUCK (-1.69%) as they cumulatively wiped away 126 points from the index. On the flipside, POL (+2.62%), ISL (+3.20%) and TRG (+4.49%) cumulatively contributed +61 points to the index. Steel sector led the gains in the market, where ASTL (+4.33%) and MUGHAL (+4.57%) closed close to their respective upper circuits, while INIL (+2.47%) and ISL (+3.20%) closed positive. POL (+2.62%) and PPL (+0.20%) from the E&P sector closed positive as crude oil prices edged higher trading at $66.99/bbl. Pressure was witnessed in the cement sector where major laggards of the sector were PIOC (-2.99%), LUCK (-1.69%), DGKC (-0.52%) and MLCF (-0.26%).

Moving forward, it is expected that stock market will remain volatile with flows from local institutions and foreigners directing the market.