Benchm­ark index rises 0.6% to settle at 39,543.77KARACHI: The stock market advanced on Monday, led by auto, oil and bank stocks on attractive valuations. Expectations of a likely cut in the Public Sector Development Programme (PSDP) in the mini-budget, which was expected on January 23, put cement stocks under pressure. “On the flip side, cement stocks traded under pressure due to expected increase in federal excise duty on cement prices. K-Electric was the volume leader with 19.09 million shares, gaining Rs0.12 to close at Rs6.57. It was followed by Fauji Foods with 10.13 million shares, losing Rs1.77 to close at Rs33.63 and The Bank of Punjab with 5.2 million shares, gaining Rs0.07 to close at Rs12.9.

Source: The Express Tribune January 21, 2019 15:06 UTC