KARACHI - Stocks closed bearish on Monday amid thin trade after global stocks and commodities plunged on concerns over global economic slowdown and fall in German business climate index.
The bench mark KSE 100-share index lost 77.12 points or 0.50 per cent to stop the day’s trading at 15,357.52 points as compared to 15,452.64 points of the previous session. Market expert Ahsan Mehanti said investors booked profits in the future contract rollover week amid consolidation post major announcements. “Fears ahead of foreign selling on global stocks fall led investor activity on cautious note despite hopes for strong earnings outlook on quarter end and positive outcome on Pak-IMF meetings,”he added.
KSE Allshare-index shed 56.84 points or 0.52 percent to end the day at 10844.36 points, KSE 30-share index went down by 61.46 points or 0.47 percent to conclude the session at 12963.11 points while KMI 30-share index decreased by 115.65 points or 0.42 percent to finish the day at 27182.49 points.
“Lack of triggers dragged the benchmark index to close below 15400 points level with volumes dropping to 6-week low. Investors also remained cautious on heavy futures open interest and NRO case hearing. KESC led the volume, followed by PTC and NICL,” equity dealer observed.
Volumes at KSE in term of shares maintained at 85.780 million shares after opening at 159.264 million shares and the value of traded shares descended to Rs 2.588 billion from Rs 4.298 billion of the previous session. The market capitalization settled at Rs 3.891 trillion after opening at Rs 3.912 trillion.
Trading took place in 319 companies where losers held a strong lead over the gainers by 195 to 100 while the values of 24 stocks remained intact. Island Textile was the biggest price gainer of the day, up by Rs 14.70 to Rs 308.70 while the top losers were led by Siemens Pakistan, down by Rs 47.74 to Rs 907.25.
In the top ten active scrips, KESC was the volume leader of the day with 8.754 million shares, off by Re 0.30 to stop at Rs 6.53. PTCLA was on the second position with 6.000 million shares, shed Re 0.08 to Rs 18.94. It was followed by Nimir Ind Chemicals with 4.302 million, NIB Bank Limited with 2.956 million, Fauji Cement with 2.841 million, Engro Corporation with 2.652 million, Bank AL-Habib with 2.439 million, Lafarge Pakistan with 2.162 million, Dera Ghazi Khan Cement with 2.130 million and Fatima Fertilizer Company with 1.980 million shares.