KARACHI: Pakistan Equities closed Tuesday little changed after witnessing volatile trading where the benchmark KSE100 Index swung in a 500 points range. KSE-100 index witnessed a bear market in today’s trading session, making an intraday low of 432 points, however recovered to close at 44,907 level, up 9 points. Selling pressure in the market was likely due to futures rollover week and investors opting to book profits. Market opened on a lackluster note and as the day progressed saw profit-taking in specific sectors namely Financials, Steels and Autos. Institutional interest reportedly from foreigners remained higher in Cements. Oils also remained in limelight with Oil & Gas Development Company (OGDC) gaining 1.3 percent announcing hydrocarbon discovery that according to our analyst will have a positive EPS impact of Rs 0.2/share. On the results front, earnings announced by National Refinery NRL losing 0.1 percent, Attock Refinery (ATRL) losing 0.85 percent, Honda Car (HCAR) losing 4.95 percent and Attock Cement (ACPL) losing 2.7 percent came lower than street consensus. However, International Steels (ISL) gaining 2.2 percent announced a surprise cash payout of Ra 1.5/share along with inline earnings, cheering investors. The company’s management, soon after market close, also notified exchange of an expansion with Rs 290 million announced for an additional brownfield expansion of 100,000TPA Cold Rolled Capacity while Rs 675 million allocated for Service Centers in Karachi and Lahore cities. Elixir Research’s analyst Muhammad Arbash sees consolidation in near-term as investors focus now shift to stocks earnings and recommends booking profits on strength and accumulate value plays on dips. Overall volumes stood at 226mn shares as compared to 294 million shares traded previously. Sui Southern Gas Company Limited (SSGC) gaining 1.72 percent from the gas utility led the volume chart with more than 13 million shares exchanging hands. JS Research’s analyst Maaz Mulla expects market to continue its positive trend and recommend investors to accumulate growth and valued stocks on dips. Mix sentiments were seen in refinery sector as PRL (+4.98%) and ATRL (+0.85%) closed in green, while on the other side NRL (-0.10%) closed in the red zone. Mix sentiments were also seen in the steel sector as ASTL (-1.47%) closed in red, while on the other hand ASL (+0.05%) and ISL (+2.15%) closed in the green zone. Published in Daily Times, January 24th 2018.