The political scenario in the country kept investors away. Investors seem keen on keeping cash in their pockets. Many of them are also keeping an eye over FATF developments. High inflation numbers from September and concerns over Covid-19 second wave are also big factors in this regard.

The market started off in the green leading the index to intra-day high by 91 points, but the benchmark soon lost the foothold. Analysts at AHL Securities stated that selling was observed across the board with the exception of PSO, HBL, Unity and KE.

Buying activity in Lucky Cement towards the close of the session also contributed to the late market recovery.

Foreign investors did some cherry-picking of shares worth $0.12m as they often do when there is blood on the street. Individuals, mutual funds and companies were major sellers while banks and insurance companies did some value investing on dips.

The traded volume declined 23pc over the earlier day to 290.1m shares as investors preferred to stay on the sidelines. The value also declined 24pc to $59.9m.

The story was filed by the News Desk.
The Desk can be reached at info@thecorrespondent.com.pk.

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