KARACHI

Lackluster activity was seen at Pakistan Stock Exchange amid pressure in oil and fertilizers stocks on uncertainty in global stocks and crude prices.

The bench mark KSE 100-share index declined by 57.53 points or 0.17% to close at 33,022 index level. Investors remained on the sidelines. Traded volume went down by 23% to 123m shares.

Steel stocks were in the green yesterday as investors reacted to news of imposition of additional regulatory duty on import of finished iron and steel products in the Economic Coordination Committee meeting held last week. Mughal Iron & Steel (MUGHAL) and Amreli Steel (ASTL) closed at their upper limit (up 5%) and Crescent Steel (CSAP) rose 2.5%, observed analysts.

In the same meeting, ECC approved Auto Policy 2015, which aims to increase competition in local industry. Pak Suzuki (PSMC) and Indus Motors (INDU) fell 0.8% and 0.3% on the development.

Analyst Ahsan Mehanti said institutional support remained in cement and auto stocks on likely gains of new auto policy and CPEC projects.