KSE index loses 72 points in dull activity

KARACHI - In the absence of any positive news activity remained dull at local bourse with volume of only 83 million shares. Investors also remained concerned on the charges levied by National Clearing on gain tax calculation, a dealer observed here on Tuesday.At local equity market, the benchmark KSE 100-share index shed 72.60 points or 0.46 percent to to stop the day’s trading at 15674.30 points after opening at 15746.90 points. KSE allshare-index shed 76.82 points or 0.69 percent to to finish the day at 11051.62 points, KSE 30-share index went down by 66.11 points or 0.51 percent to end the day at 12861.11 points while KMI 30-share index lost 116.71 points or 0.42 percent to close the day at 27570.06 points. Equity analyst Ahsan Mehanti said stocks fell amid concerns for economic slowdown. Concerns for gas shortfall for textiles, fertilizers and power sector units, stagnant domestic demand for cement and falling foreign exchange reserves of the country played a catalyst role in bearish sentiments at KSE, he said.Stocks fell across the board in the quarter end earnings announcement session as global markets uncertainty, limited foreign interest impacted the sentiments amid lower trades. Investors remained concerned over prevailing security unrest in the city, he added.Market traded 82.838 million shares after opening at 81.892 million shares and the value of traded shares climbed to Rs 3.038 billion after opening at Rs 3.029 billion. Stock market capitalization settled at Rs 3.934 trillion as compared to 3.964 trillion of a day earlier. Trading took place in 324 companies where losers held a strong lead over the gainers by 186 to 117 while the values of 21 stocks remained intact. Nestle Pakistan Limited was the top loser of the day, down by Rs 275 to Rs 5225 while Bata (Pak) Limited was the top price gainer of the day, up by Rs 35 to Rs 1190.P.T.C.L.A was the top traded company of the day with 10.246 million shares, followed by Engro Corporation, Nishat Mills Limited, Maple Leaf Cement and D.G.K.CementXD with 4.506 million shares, 4.097 million shares, 3.050 million shares and 2.944 million shares respectively.

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