KARACHI - Across the board profit-taking was seen with relatively low volumes. Investors now started to realise that central bank monetary tightening will also continue in future as a result of that they trimmed their positions.

The Karachi stock market benchmark KSE-100 share index shed by 176.18 points or 0.76 percent to end the day at 23066.50 points compared to 23242.68 points of the previous day.  A dealer said Lucky Cement full year result announcement of earnings of Rs.30 and 80pc payout was in line with expectation. After witnessing a rally in last few days, PIA though fetched 18pc of ready board volume but closed 3pc down.

KSE-All share index off by 157.09 points or 0.94 percent to close the day at 16537.09 points, KSE-30 share index misplaced 228.96 points or 1.28 percent to sop the day’s trading at 17727.97 points while KMI-30 share index reduced by 447 points or 1.13 percent to finish the session at 39098.97 points.

The day turnover of stock market was 223.974 million shares after opening at 242.848 million shares and the value of traded shares was minimised to Rs 6.760 billion from Rs 8.476 billion. Capitalisation of the local equity maintained at Rs 5.432 trillion compared to Rs 5.510 trillion of a day earlier.

Shares of 344 companies were traded on Tuesday where 107 closed in positive and 219 closed in negative while the value of 18 companies remained intact. Nestle Pak was the top loser of the day decreased by Rs 90 to Rs 5960 followed by Wyeth Pak Limited down by Rs 23.07 to Rs 3477.60. Island Textile and Bata (Pak) were the biggest price gainers of the day up by Rs 41.63 o Rs 874.27 and Rs 30 to Rs 1830 respectively.

Activity remained in second and third tier stocks amid rising political concerns and falling global stocks and commodities. Economic uncertainty and concerns over tough economic reforms targets set by IMF following approval of bailout package affected the sentiment, analyst observed.

Active list was topped by PIAC (A) with 39.727 million shares off by Re 0.09 to Rs 9.52. Pak Elektron (R) was on the second position with 17.655 million shares up by Rs 1 to Rs 8.87. It was followed by Maple Leaf Cement with 14.347 million shares down by Re 0.73 to Rs 25.55, Bank of Punjab with 10.992 million shares misplaced Re 0.40 to Rs 12.69 and Bank Al-Falah with 10.719 million shares added Re 0.19 to Rs 22.63.