The stock market closed flat yesterday in the last session of the week. Friday being a holiday at the market, investors decided to take profit which saw the index close with addition of a minor 9.32 points at new all-time high 30,474.75.
Foreign investors bought a huge $10.83 million worth stocks, making major investment amounting to $3.8m in cements; $2.7m in oil and gas; $2.1m in chemicals and $1.4m in banking sector.
Initially that provided the bulls the momentum to carry forward the market. Yet as investors got cold feet over the long week-end ahead, the market took a downward trend. The impact of the foreign inflow was offset by heavy sell off by mutual funds to the tune of $7.67m and banks’ disposal of $4.32m worth equity.
