KARACHI - Amid low participation and profit-taking, the benchmark index remained slightly under stress and lost 50.94 points closed the day at 25366.69 points compared to 25417.63 points of the previous day.
Dealers said during the intraday market went as low as 25,183 level, however, with some late recovery in index heavy weights like MCB and OGDC amongst others, the index closed in at 25,367 level. Conversely, positivity was seen throughout the day in cement sector scrips and in FCCL, especially which accounted for 30pc of the KSE-100 volume and gained 3pc.
KSE-Allshare index off by 35.83 points or 0.19 percent to end the day at 18720.72 points, KSE-30 share index misplaced 34.50 points or 0.18 percent to conclude the trading session at 18950.18 points while the KMI-30 share index gained 20.57 points or 0.05 percent to stop the day at 42808.80 points.
Trading took place in 348 companies where gainers outnumbered the losers 176 to 141 while the value of 31 stocks not changed. Indus DyeingXD was the biggest gainer of the day up by Rs 53.37 to Rs 1121.10 followed by Sanofi-Aventis grew by Rs 29.26 to Rs 631.26. Bata (Pak) and Colgate Palmolive were the top losers of the day decreased by Rs 117.80 to Rs 2677.20 and Rs 40.87 to Rs 1609.13.
Volumes declined by 28pc to Rs 5.507 billion after opening at Rs 7.655 billion and the day turnover in term of shares was 146.610 million compared to 195.487 million shares of the previous day. The capitalisation of the market maintained at Rs 6.089 trillion compared to 6.101 trillion of a day earlier.
Analyst at Arif Habib, Ahsan Mehanti said concerns for security unrest in the city were the reason of bearish sentiment at market.
Rising circular debt in energy sector, limited foreign interest, delay in release of coalition support funds and $800m Etisalat over dues played a catalyst role in bearish sentiments at KSE despite record foreign remittances data, he added.
FCCL remained the volume leader with 31.318 million shares grew by Re 0.41 to Rs 15.20. Pakgen was on the second position with 7.977 million shares as it closed at Rs 21.44 after opening at Rs 21.20. It was followed by PTCLA with 7.976 million shares added Re 0.03 to Rs 31.28, Lafarge Pak with 7.088 million shares extended by Re 0.18 to Rs 8.58 and Azgard Nine with 5.687 million shares off by Re 0.37 to Rs 6.99.