KARACHI - Stocks closed lower amid institutional profit- taking in blue chip stocks ahead of major earning announcements due this week.
At local equity market bench mark KSE-100 share index shed 10.85 points to finish the day at 13,864.68 points as compared to the 13,875.53 points of the last working day on Friday.
Stock analyst observed that uncertainty over announcements on revised CGT regime, limited expectations for reduction in SBP key policy rate due to be announced this week and fall in global stocks and commodities affected the sentiments.
KSE-Allshare index firmed 2.07 points or 0.02 percent to finish the session at 9,747.38 points, KSE-30 share index fell 50.91 points or 0.42 percent to end the day at 12,132.46 points while KMI-30 share index shed 56.82 points or 0.24 percent to conclude the day at 23,763.72 points.
Equity dealer said profit taking continued at local bourses. OGDC fell down by 1.7pc affected index by 42 points. Lucky cement came down by Rs.4.17 as investors reduced their exposures after recent rally. Low priced stocks continued to remain in limelight with WTL, DCL and FCCL remained in the top volume list.
Stock market traded 348,244 million shares after starting at 433,019 million shares. 374 companies participated in the trading session where 177 close in positive and 138 in negative while the value of 59 stocks remain intact.
WorldCall Telecom was the top traded company of the day with 30,864 million shares as it close at Rs 4.05 after opening at Rs 3.96. Dewan Cement was next with 21,066 million shares firmed by Re0.51 to end at Rs 6.19. It was followed by Fauji Cement, KESC and Summit Bank Ltd with turn over off 19,681 million, 19,304 million and 17,300 million shares.
Biggest gainer of the day was UniLever Pak LtdXD rising by Rs 271.69 to close at Rs 5,844.49 followed by Nestle PakXD up Rs 87.70 at Rs 4,509.00. The heaviest loser of the day was Attock PetroleumXD down by Rs 5.81 to close at Rs 456.03 followed by Lucky Cement shedding Rs 4.01 at Rs 123.56.