KARACHI - Stocks closed lower after dismal economic data of $1.5b deficit on current account for Jul-Dec’13.

The benchmark 100 share index misplaced 90 points to stop the day at 27015.12 points compared to 27104.70 points of the previous day.

Analysts said below expected earnings for Pak Oilfeilds, NRL and concerns for rising circular debt in energy sector played a catalyst role in bearish activity in overbought market. Key appointments in banking sector supported the index amid hopes for early announcements on privatisation and 3G licence auctions in telecom sector despite concerns for security on unrest in the country.

KSE-Allshare index marginally up by 6.24 points or 0.03 percent to end the day at 20179.92 points, KSE-30 index off by 147.79 points or 0.75 percent to conclude the trading session at 19642.28 points while KMI-30 share index off by 246.22 points or 0.55 percent to close the day at 44666.37 points.  A dealer at KSE said led by some institutional profit taking in index heavy weight items like OGDC, POL, PSO, and MCB, the index closed at 27,015 level after losing 90 points. OGDC and MCB contributed 87.8 and 62.4 points respectively towards index decline.

However, healthy sign increased participation as volumes increased by 21pc to Rs21b. Attock group results remained mixed with POL and APL posting impressive earnings and payouts while ATRL and NRL posted loss in 2Q but were less than expectation. Investors’ Interest was seen in DGKC, Engro, MLCF, FABL and PTC amongst others, he added.

Out of 425 companies, 265 closed in positive and 143 in negative while the value of 17 stocks not changed. Nestle Pak was the biggest price gainer of the day increased by Rs 468.54 to Rs 10332.97 while the top loser of the day was Simens PakistanXD decreased by Rs 71.50 to Rs 1420.47.

Market traded 383.011 million shares after opening at 261.967 million shares and the value of traded shares was climbed to Rs 13.587 billion compared to Rs 11.210 billion of the yesterday while the market capitalisation stable at Rs 6.582 trillion as compared to the Rs 6.581 trillion of the last working day.

Active list was topped by Faysal Bank with 29.452 million shares up by Re 0.91 to Rs 13.40. PTCLA was on the second with 24.609 million shares added Re 0.78 to Rs 30.25. It was followed by PIAC (A) with 17.821 million shares off by Re 0.16 to Rs 9.85, Lafarge Pak with 17.216 million shares gained Re 0.07 to Rs 10.40 and Bank of PunjabXR with 15.233 million shares extended by Re 0.34 to Rs 11.34.