Post budget profit-taking disrupts momentum | Daily News

Post budget profit-taking disrupts momentum

Post budget profit-taking disrupted the momentum reverting the direction of the market to negative while sustaining the Rs. 2 billion-plus turnover.

Index experienced a downtrend within the early hours of trading as it hit its intraday low of 6,086. The later market witnessed a short-lived bounce back during mid-day and closed at 6,108 losing merely 1 point. Turnover for the session was led by Food and Beverage sector counters closely followed by Transportation sector making a combined contribution of 48%. Foreign investors continued are net-sellers while recording low participation.

The secondary market yield curve remained broadly unchanged. (First Capital Research)