KARACHI

Bears took the charge at local market after three consecutive session of bullish spell on Tuesday.

The KSE benchmark 100-share index off by 11.14 points or 0.04 to end the day at 30402.09 points compared to 30413.23 points of a day earlier. Ahsan Mehati analyst at Arif Habib Corp said stocks closed flat amid higher trades in second and third tier stocks on reports for dismal current account deficit of $2.925b for 2013-14. Deteriorating geo-political situation, dismal fertilizer sales data for June’14 and status quo in SBP policy announcement played a catalyst role in bearish activity despite strong earning announcements in banking sector, he added.  KSE-Allshare index shed by 15.24 points or 0.07 percent to close the day at 22281.81 points, KSE-30 index sup by 1.56 points or 0.01 percent to finish the trading at 21181.26 points while KMI-30 index misplaced 80.25 points or 0.16 percent to conclude the session at 49519.88 points.

Market traded 148.086 million shares after opening at 193.700 million shares and the value of traded shares was reduced to Rs 7.077 billion from Rs 10.204 billion while the capitalisation of the market maintained at Rs 7.121 trillion after opening at Rs 7.126 trillion. Trading took place in 339 companies where losers beat the gainers 161 to 147 while the value of 31 stocks remained intact. Bata (Pak) and Colgate Palmolive were the biggest price gainers of the day up by Rs 98 to Rs 3348 and Rs 79.50 to Rs 1730. Pak Tobacco and Shezan Inter were the biggest price losers of the day decreased by Rs 52.41 to Rs 1100.01 and Rs 50.63 to Rs 969.37.

Active list was topped by Bank of Punjab with 15.407 million shares up by Re 0.28 to Rs 9.12. Askari Bank was the second highest with 12.822 million shares grew by Re 0.14 to Rs 21.32. It was followed by Maple Leaf Cement with 12.291m shares added Re 0.47 to Rs 33.49, Lafarge Pak with 8.568m shares off by Re 0.31 to Rs 16.75 and Fauji cement with 6.425 million shares shed by Re 0.10 to Rs 21.05.