KARACHI - Limited foreign interest, concerns for rising circular debt in energy sector played a catalyst role in bearish activity despite improved CPI Inflation data for Jan’13, Ahasn Mehanti observed here on Friday.

Lack of institutional interest with low participation prevailed in the bourse, market shed 180.73 points or 0.67 percent to close at 26681.78 level for the week.  Stocks battered in the earning announcement session at KSE on uncertainty on outcome of peace talks with TTP. Rising government debt, delays in commitments on privatisation of SOEs with IMF impacted the sentiments despite rise in local power tariff and rising exports after GSP plus status granted by EU, he added.

In a weekly review Asad Siddiqui at Topline Securities said that daily volumes witnessed rose by 4pc to Rs6.8b despite this week having 4 working days. The week coupled with investors expecting that further rate hike won’t take place in the upcoming MSP. During the week interest was seen in JSCL, ANL, BOP, BOPR1 and BIPL amongst others. KSE-Allshare off by 167.86 points or 0.84 percent to stop the day at 19881.18 points, KSE-30 share index reduced by 115.84 points or 0.60 percent to end the day at 19255.94 points while KMI-30 index misplaced 308.16 points or 0.69 percent to conclude the trading at 44090.97 points.  Market traded 287.640 million shares after opening at 254.210 million shares and the value of traded shares was reduced to Rs 7.678 billion from Rs 8.110 billion while the capitalisation of the market maintained at Rs 6.482 trillion compared to Rs 6.537 trillion of a day earlier.

Trading took place in 383 companies where 265 closed in negative and 101 in positive while the value of 17 stocks not changed. Unilever Foods and Rafhan Maize were the biggest price loser of the day decreased by Rs 476.63 to Rs 9076 and Rs 303.40 to Rs 6700. Wyeth Pak Ltd and Murree Brewery were the highest price gainers of the day up by Rs 227.60 to Rs 4989 and Rs 17.24 to Rs 903.69.

JS Co topped the active list with 46.801 million shares up by Rs 1.41 to Rs 13.09. Azgard Nine was on the second position with 23.471 million shares off by Re 0.85 to Rs 8.77. It was followed by Engro Fertilizer Ltd with 13.869 million shares up by Rs 2.58 to Rs 49.09, Bank of Punjab (R) with 11.660 million shares down by Re 0.32 to Rs 2.63 and Pak Elektron Ltd with 11.252 million shares added Re 0.65 to Rs 21.40.