KARACHI – The Karachi stock market closed lower amid thin trade Wednesday on investors’ concerns over rising political uncertainty after the Supreme Court asked the federal government to implement its verdict on NRO, ahead of year-end earnings announcements due next week.

The KSE 100-index fell 0.35 per cent or 40.07 points to close at 11361.97 points. KSE all-share index lost 0.34 per cent or 26.45 points to end at 7868.73, KSE 30-index decreased 0.18 per cent or 19.09 points to finish the day at 10359.14, while the KMI 30-index slumped 0.19 per cent or 38.90 points to finish the day at 20415.13 points.

Trading took place in 319 companies where price of 107 issues advanced, 104 declined, while the value of 108 stocks stayed unchanged.

Lotte PakPTA was the top traded company of the day with the trading of 6.988 million shares in its scrip, followed by National Bank, NIB Bank Limited, Fatima Fertilizer Company and Oil and GasXD with turnover of 4.735 million, 3.021 million, 2.288 million and 2.257 million shares respectively.

Millat Tractors Limited was the top price gainer of the day with an increment by 3.61 rupees to close at 365.42 rupees while on the other side UniLever Pakistan Limited led the major decliners of the day with a decrement of 171.71rupees to finish the day at 5397.42 rupees.

“Investors remained cautious ahead of year-end earnings announcements due next week. Limited foreign and institutional interest in bluechip banks supported the market to close above session lows,” said Ahsan Mehanti Drictor Arif Habib Investment in his analysis.