KARACHI - Profit-taking continued at Karachi Stock Exchange on rising economic uncertainty.

At local equity market benchmark KSE-100 share index misplaced 136.44 points or 0.59 percent to end the day at 22930.06 points compared to 23066.50 points of the previous day.

Analyst Ahsan Mehanti at Arif Habib said rising CPI inflation, SBP policy rate and post budget implications on listed sector impacted the sentiments.

Limited foreign interest and uncertainty in global stocks and commodities played a catalyst role in bearish sentiments despite record earning announcements in cement sector and institutional support in banking stocks on rising spreads after SBP surprise move on raising policy rate on Sep 13.

KSE-Allshare index decreased by 79.77 points or 0.48 percent to stop the day at 16457.32 points, KSE-30 share index shed by 184.53 points or 1.04 percent to conclude the session at 17543.44 points while KMI-30 share index reduced by 649.78 points or 1.66 percent to finish the day at 38449.19 points.

Market traded 222.268 million shares after starting at 223.974 million shares. The value of traded shares extended to Rs 7.927 billion from Rs 6.760 billion and capitalisation of local bourse maintained at Rs 5.396 trillion contrasted to Rs 5.432 trillion of a day earlier.

Senior analyst Samar Iqbal at Topline Securities said investors trimmed their position due to continuous fall in Pak rupee. Cement, fertilizer and oil stocks witnessed selling pressure. However, Kohat Cement closed at 5pc upper cap after announcing handsome earnings of Rs.20.45 and healthy cash dividend of Rs.5.00 with 20pc bonus issue. Banks continued to rally after the recent hike in policy rate.

Trading took place in 332 companies where losers held a strong lead over the gainers 213 to 95 while the value of 24 stocks not changed. Nestle Pak was the top price gainer of the day up by Rs 225 to Rs 6185 followed by Siemens Pakistan added Rs 46.76 to Rs 991.76. Colgate PalmoliveXDXB and Murree Brewery were the biggest losers of the day decreased by 65 to Rs 1550 and Rs 16.23 to Rs 308.52.

Pak Elektron (R) was the volume leader of the day with 21.363 million shares grew by Re 0.46 to Rs 9.33 after opening at Rs 8.87.  PIAC(A) was on the second position with 20.297 million shares off by Re 0.93 to Rs 8.55. It was followed by Habib Metropol with 13.969 million shares up by Rs 1.12 to Rs 23.62, Bank of Punjab with 12.092 million shares shed by Re 0.05 to Rs 12.64 and TRG Pakistan Limited with 11.057 million shares added Re 0.36 to Rs 10.59.