LAHORE - Pakistan Stock Exchange landed back into the red zone on Thursday, with the benchmark KSE 100-index losing 236 points to close at 42,536 points.

The index made a high of 66 points vs a low of 325 points. Market started the day on a positive note but eventually came down, while traded volumes also plunged by 3 percent DoD to 127m shares, and value traded dropped to $40m.

Top volume stocks were FABL (+3.0 percent), BOP (+0.3 percent), UNITY (+4.9 percent), PAEL (-3.1 percent) and FFL (+5.0 percent). This selling pressure in the market was on the back of investors’ skepticism regarding the political scenario in the country. Weak investor sentiments in the banking sector weighed down the index as NBP (-1.7 percent), MCB (-1.5 percent) and HBL (-0.2 percent) closed lower. Cement sector remained under the hammer for second consecutive day where PIOC (-2.1 percent), LUCK (-2.8 percent), CHCC (-2.3 percent), FCCL (-2.2 percent) and DGKC (-2.0 percent) lost value to close in the red zone.

POL (-0.4 percent) and OGDC (-0.6 percent) from the E&P sector shed points as crude oil prices edged lower in the international market. Moving forward, it is expected that market will remain volatile with flows from local institutions and foreigners directing the market.