Selling pressure continued to remain dominant at the Pakistan Stock Exchange. The KSE100 index lost 25 points to settle at 47,987.

The exchange remained rangebound throughout trading on the second day of the week. Volumes continued to post a decline which indicates that investors are waiting on the sidelines for positive triggers.

Increase in levy on petroleum products continues to affect the index heavy oil and exploration sector. Investors continue to wait for positive triggers which will direct the index in the coming days. Broader economic indicators are lackluster due as the trade deficit has also

Global oil markets continue to develop a bullish structure with the anticipation of a recovery in demand. Oil has posted an above average recovery in demand as global economies open. An increase in prices will heavily effect OPEC economies.

At the closing bell 150 companies had advanced with 220 closing in the red. 22 scrips remained unchanged.

Market participation for the KSE100 Index decreased to 209m from 227m (-8% on d/d basis). Major contribution to total market volume came from SILK, WTL and KEL combined for 161m shares out of the total market volume of 611m shares.