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A quiet slip on the lightest tape since 17 September: KSE-100 eases 0.20% to 170,426 as the refineries sweep 2.04% higher and TISL runs 7.6% on 60m against 267 decliners

The KSE-100 eased 0.20% to 170,426 on Monday, its third straight close below the 24 July low of 171,021 - about 0.35% under it - leaving the index roughly 9.08% below the 6 July record and 1.46% above the 14 September correction low, with the 173,519 level abandoned on 8 September about 1.78% overhead. It was a session of small moves in both directions: all four gauges fell between 0.12% and 0.20%, breadth ran 181 advancers to 267 decliners across the 494-name board with 14 of 33 sectors higher, and the tape thinned to 421m, the lightest since 17 September, with 278m in advancing names against 132m in declining ones - the third session in five in which volume ran against the index's direction. The refinery complex rose again, the sector up 2.04% in a clean sweep - NRL 3%, ATRL 2.8%, PRL 1.3% on 24m, CNERGY 1.1% on 62m - and the band tape stirred, TISL up 7.6% on 60m and TRG at the 10% limit on 9m. Against that, Power Generation and Distribution fell 1.74% with 12 of 16 lower on NCPL's 3%, the securities complex 1.04% with 22 of 33 down, Modarabas 1.14% and Commercial Banks 0.23% with 12 of 19 lower.