Index slips after flirting with 66,000 level

KARACHI: The benchmark KSE 100-share index continued to flirt with the 66,000-point level on an intraday basis but a close above that mark was still elusive despite a bullish beginning with a spike in trading volume on Monday. Topline Securities Ltd said the index remained in the green for most part of the session hitting an intraday high of 326 points at 66,119 after the new cabinet members took oath and the prime minister also called the first meeting in the evening. However, the 66,000 level has so far proved a quagmire area where bullish forces face tough competition and eventually surrendered 5th time since last week. Power, fertiliser, tech, auto & pharma sectors contributed positively to the index as Hub Power, Fauji Fertiliser Company, PTCL, Millat Tractors Ltd and The Searle Company Ltd added 95 points, cumulatively. On the flip side, Dawood Hercules, Pakistan Services Ltd and Nestle Pakistan saw some selling as they lost 160 points, collectively.