KARACHI - Stocks closed lower amid consolidation in blue chip stocks after major earning announcements at KSE.
At Karachi stock exchange benchmark KSE-100 share index lost 79.39 points or 0.60 percent to finish the day at 13,244.95 points as compared to 13,324.34 points of the last working day.  Bearish activity witnessed at KSE amid higher trades on institutional profit-taking in overbought market after global markets fall on slower economic growth in China and Greece debt concerns, said Ahsan Mehanti stock analyst in his analysis. Index closed near session’s lows on concerns for rising government debt over and uncertain global commodities post major announcements at KSE, he added.
Market traded 318.609 million shares after opening at 250.514 million shares. Trading took place in 363 stocks where gainers out numbered the losers 181 to 114 while the values of 68 companies remain intact.
Fauji Cement was the top traded company of the day with 31.173 million shares as it close at Rs 5.02 after opening at Rs 4.72 increased by Re 0.3 followed by JS&Co, Lotte PakPTA, Azgard Nine and Arif Habib Co SD with turnover of 27.056m, 24.989m, 20.670 million and 20.503m shares respectively. Colgate Palmolive and Nestle PakistanXD were the highest price gainers of the day up by Rs 42.58 and Rs 39.52 while the top losers were led by the National Refinery and UniLever Pak down by Rs 6.35 and Rs 5.17 respectively.