The market closed negative Monday, as the index made an intraday high of +255 and a low of -138 points respectively to finally close flat at 42425.10 points level. After opening 232 points positive the index continued to slide lower throughout the session as investors booked profits ahead of Eid holidays where the Benchmark KSE-100 witnessed dull and negative session in wider market activity as the selling pressure persisted on account of profit taking. The KSE-100 plunged by 21.52 points or 0.05 percent. Market will remain close from 21st till 23rd on account of Eid ul Azha holidays. Moreover, the newly elected Prime Minister Mr. Imran Khan addressed the nation yesterday after assuming the office as the country’s chief executive. Mixed sentiment was seen in Cements, where Lucky Cement gaining 1.20 percent, DG Khan Cement gaining 2.45 percent and Fauji Cement Company Limited (FCCL) gaining 1.17 percent closed positive whereas Maple Leaf Cement (MLCF) losing 0.27 percent, and Chitral Cement (CHCC) losing 0.31 percent closed in the red. Financials dragged the market down where MCB Bank losing 0.17 percent, United Bank Limited (UBL) losing 1.03 percent, and Bank Alflah losing 0.20 percent closed negative, while on the flip side Habib Bank Limited (HBL) gaining 1.54 percent closed positive. Monday’s major heavyweights namely, Pakistan Petroleum Limited (PPL), MCB, UBL and Pakistan Oil Fields (POL), cumulatively contributed -44 points. Traded volumes decreased by 24 percent day-on-day (DoD) to 147 million shares while value traded decreased to $ 52 million. Top volume stocks were Wateen Telecom Limited (WTL), Bank of Punjab (BOP) and Engro Polymer Chemical Limited (EPCL). An equity analyst Danish Ladhani expects market to remain volatile and choppy with flows from local and foreign institutions directing the market. Today the advance to decline ratio in the broader market remained in the favor of bears; 159:172 and 14 scrips unchanged. Published in Daily Times, August 21st 2018.