KARACHI - Index heavy weight OGDC and MCB dragged market in negative. KSE 100 closed below 18,000 points mark after 6 trading sessions. Refinery sector remained volatile amid uncertainty about deemed duty revision. Cement stocks remained in the limelight as alone LPCL and FCCL fetched 19pc of volume, dealers observed here on Thursday.
At local equity market benchmark KSE-100 share index shed 07.54 points or 0.04 percent to end the day at 17,992.91 points compared to 18,000.45 points of a day earlier.
A stock analyst said Pakistan stocks closed bearish in the fourth session of the week amid institutional consolidation in blue chip stocks post major earnings announcements at KSE.
Political withdrawal on call for indefinite strike in city invited investor interest in early session followed by profit-taking amid concerns for security unrest in the city and ADB call for need of $9b IMF package to meet balance of payment situation. Trade was led by cement stocks on strong sales data for July-Feb ‘13, record close in global stocks amid hopes for easing gas shortfall issues for fertilizer companies
KSE-Allshare index decreased by 12.77 points or 0.10 percent to close the day at 12,639.55 points, KSE-30 share index off 62.32 points or 0.42 percent to close the day at 14,602.15 points while KMI-30 share index gained 17.19 points or 0.05 percent to stop the day at 31,321.37 points.
Market traded 184.607 million shares after opening at 341.371 million shares and the value of traded shares was minimised to Rs 5.636 billion from Rs 9.333 billion. The capitalisation of equity market settled at Rs 4.468 trillion compared to Rs 4.472 trillion a day earlier.
Trading took place in 357 companies where gainers beat the losers 192 to 143 while the value of 22 stocks remained intact. Unilever Pak was the biggest price gainer of the day up by Rs 528.75 to Rs 11103.75 while the top loser was led by Bata (Pak) down by Rs 57.33 to Rs 1392.67.
Lafarge Pakistan was the volume leader of the day with 21.988 million shares grew by Re 0.21 to Rs 6.16. It was followed by Fauji Cement with 13.153 million, JS Company with 10.280 million, Lotte PakPTA with 9.272 million and Engro Corporation with 8.645 million shares.