The Stock Market posted a lack luster performance at the start of the week on Monday 17 January, 2022 owing to the lack of triggers in the market.

Rising concerns amid increasing Covid-19 cases across the country have brought selling pressure which led the benchmark KSE 100 index to decline by 151.25 points to settle at 45,612.20.

Investors are concerned over rising international commodities prices which led the market to open sideways, as the market made an intraday low of 377 points.

At the beginning, Index came under pressure from TRG where stock touches its lower limit in the first hour of the session followed suit by other Technology stocks as AVN, OCTOPUS and SYS, which closed lower.

Sector-wise summary suggest, the index was brought down by Technology & Communication with 101 points, Commercial Banks with 28 points, Refinery with 22 points, Textile Composite with 7 points and Insurance with 7 points.

The most points decline was contributed by by TRG which led to loss of 88 points followed by HBL with 17 points, AVN with 11 points, NRL with 8 points and CNERGY with 8 points.

Sectors which supported the index were Cement with 21 points, Power Generation & Distribution with 10 points, Fertilizer with 7 points, Pharmaceuticals with 5 points and Automobile Assembler with 3 points.

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