KARACHI – On the last day of year 2012, the Karachi stock market closed lower, although the market gained 49 per cent during 2012 and crossed 17,000 points for the first time.

“The Karachi stock market closed below the psychological level of 17,000 points. Bank of Punjab remained in the limelight after news of recovery of funds. Volumes also showed some sign of improvement. Market gained 49pc is calendar year 2012 mainly because of substantial decrease in interest rate,” a dealer observed.

KSE 100-share index shed 37.86 points or 0.22 per cent to close the day as well as year at 16,905.33 points as compared 16,943.19 points of last working day on Friday.

Analyst said stocks closed lower on institutional profit-taking. “Higher global commodities led the sentiment positive in the trading session amid concerns over rising political uncertainty,” he said.

He further said, “Expectations of lower CPI Inflation for Dec 2012, release of $688m US Coalition Support Fund and positive fertilizer off-take data for FFC and FFBL affected the sentiments. Falling banking spreads and global uncertainty over US fiscal cliff approval affected the foreign inflow at KSE.”

KSE allshare-index lost 41.05 points or 0.34 per cent to end the day at 11,964.24 points, KSE 30-share index decreased by 31.56 points or 0.23 per cent to finish at 13,764.00 while KMI 30-share index lost 105.47 points or 0.36 per cent to conclude the day at 29,125.55 points.

The day turnover in terms of shares settled at 177.671 million shares after opening at 154.458 million shares and the value of traded shares climbed to Rs 4.438 billion from Rs 3.655 billion while the capitalization of stock market remained Rs 4.242 trillion compared to Rs 4.256 trillion of the last trading session.

Trading took place in 350 companies where 141 closed in positive and 184 in negative, while the values of 25 stocks remained intact. Unilever was the top loser of the day, down by Rs 400 to Rs 10100, while the gainers were led by Unilever Food, up by Rs 100 to Rs 4300.

In the top ten scrips, Byco Petroleum was the volume leader of the day with 16.316 million shares, up by Re 0.53 to Rs 14.45. B O Punjab was on the second position with 12.534 million shares, higher by Re 1 to Rs 10.70. It was followed by PTCLA with 11.980 million shares, gained Re 0.24 to Rs 17.35, Maple Leaf Cement with 10.951 million shares, shed Re 0.03 to Rs 14.57, and NIB Bank Limited with 10.806 million shares, increased by Re 0.11 to Rs 2.63.