KARACHI  - Stocks fell across the board after sharp fall in global stocks and commodities on fears of possible US default on debt ceiling.

At local equity market, benchmark KSE 100-share index shed 221.11 points or one percent to stop the day’s trading at 21864.85 points as compared to 22085.96 points of the last working day on Friday. An analyst said trade remained thin on limited institutional interest amid concerns for economic uncertainty. Speculations remained in selected blue chip stocks ahead of earning announcements due this week.

KSE allshares-index lost 110.30 points or 0.69 percent to close the day at 15899.48 points, KSE 30-share index misplaced by 204.03 points or 1.22 percent to stop the trading at 16573.08 points while KMI 30-share index lost 485.49 points or 1.28 percent to close the day at 37309.81 points.  Lackluster day was observed at local bourse as only 84 million shares worth of Rs.2.6b were traded. With the end of the corporate result season there are hardly any triggers in near term due to which investors also stayed on sidelines, dealer observed.

Trading took place in 309 companies where losers outnumbered the gainers by 205 to 84 while the values of 20 stocks remained intact. Rafhan MaizeXD was the biggest price gainer of the day, up by Rs 240 to Rs 5040, followed by Nestle Pak, increased by Rs 198.33 to Rs 6198.33. Wyeth Pak Limited and Siemens Pakistan were the top losers of the day, decreased by Rs 222.50 to Rs 4227.50 and Rs 21.08 to Rs 887.67.

The day turnover of stock market in term of shares was 84.099 million after opening at 105.307 million shares.

Value of traded shares reduced to Rs 2.634 billion from Rs 3.587 billion while the capitalization of the stock settled at Rs 5.204 trillion compared to 5.240 trillion of the previous session.

P.I.A.C(A) topped the active list with 10.906 million shares, off by Re 0.13 to Rs 8.25. F.Nat.Equities(R) was on the second position with 4.978 million shares, shed Re 0.82 to Rs 1.50.

It was followed by BOP with 4.913 million shares, misplaced by Re 0.32 to Rs 10.67, Askari Bank (R) with 4.613 million shares, down by Re 0.36 to Rs 2 and Sui South Gas with 3.854 million shares, added Rs 1.2 to Rs 25.53.