KARACHI – The Karachi stock market closed marginally lower on Friday amid thin trading activity on investor concerns over political uncertainty on pending memo gate case hearing by the Supreme Court.
The KSE 100-share index fell by 5.01 points or 0.04 per cent and closed at 11301.09 points as compared to 11306.10 points of the previous session. The KSE 30-index decreased by 42.28 points, closing at 10318.41 points as compared to 10360.69 points of the previous session. KMI-30 index decreased by 96.28 points and closed at 20464.00 points as compared to 20560.28 points of the previous session.
The KSE-Allshare indexes closed at 7818.77 points with the loss of 5.65 points. It had closed at 7824.42 points in the previous session.
Trading took place in 299 companies out of which 94 companies closed in positive and 113 in negative while the values of 92 companies remained intact.
Fatima Fertilizer Company was on the top with 4.793 million shares and loss Re0.01 to close at Rs23.16, followed by Jahangier Saddiqi Company with 2.573 million shares, decreased by Re0.11 to close at Rs4.08. Engro Corporation decreased by Re0.13 to close at Rs98.41 with 2.045 million shares. Nestle PakistanXD and Siemens Pakistan were the highest gainers and increased by Rs134.82 and Rs40.29 to close at Rs2831.25 and Rs888.89 respectively.
“Uncertainty loomed on outlook for Pak-US relations after rejection of US probe by ISPR in investigation of NATO air strike. Investors awaited outcome of pending CGT issue. Institutional support in blue-chip scrips helped the market to close above its session lows,” said Ahsan Mehanti, Director Arif Habib Investments, in his analysis.
APP adds from Islamabad: An analyst said investors preferred to off-load positions in the local bourse rather than taking new positions due to two-day off ahead and the volume was very low.