KARACHI - Stocks on Thursday fell amid late session profit-taking at KSE on concerns for uncertain global stocks and commodities.

Volatility prevailed in yesterday’s session where the 100-index initially opened strong to hit a high of 392 points, however it could not sustain into the green zone, with the index closing down 193.49 points or 0.58% at 33,152.07 points.

Negativity came in after the media reports of NAB serving notices of explanation to 10 influential market players, observed Analyst Ahmed Saeed Khan, adding with the already ongoing investigations the market sentiment was weak from before, along with lackluster volumes. The recent news further deteriorates investors’ confidence in the market.

Cherry picked oil sector scrips along with heavy machinery producer of auto sector depicted gains where major gainers were AGTL that rose 0.9%, GHNL 5.0%, NRL 1.8% and ATRL 0.45% respectively.

Foreign selling in yesterday’s session and factors like NAB’s notice to 11 directors including Mian Muhammad Mansha and volatility in the regional market led KSE-100 index to close in the negative territory, stated analyst at Topline brokerage. Better than anticipated result announced by PIOC helped the stock to close up 1%.

Investors showed interest in SSGC and SNGPL stocks as news surfaced on expansion of gas distribution network by both companies. As a result SSGC and SNGP closed at 1.7% and 1.3% respectively, the analyst added. Analyst Ahsan Mehanti said early gain faded after crude prices fell sharply near to $46/barrel inviting profit taking in oil stocks.

Leveraged stocks in fertilizer sector supported the index amid concerns for falling exports and prevailing political noise ignoring improving economic outlook.

Today’s volume and value were lower than the 3-month average, down by 47% (182m shares) and 27% (Rs9.1b/$87m), respectively.