KARACHI – The Karachi stock market closed lower on Thursday as investors preferred to remain on the sidelines.

The benchmark KSE 100-share index lost 19.83 points or 0.15 per cent to stop the last working day of week at 13,273.29 points as compared to 13,293.12 points of the previous session.

Equity dealer at Karachi stock market said, “Volumes however remained confined towards small cap stocks as JSCL led the volume followed by ANL and BOP. The ongoing hearing in the Supreme Court is also disturbing investors who need clarity before making investments.”

KSE Allshare-index shed 7.91 points or 0.08 percent to finish the day at 9,297.40 points, KSE 30-share index lost 48.58 points or 0.42 per cent to end the day at 11,581.91 points while the KMI 30-share index shed 36.13 points or 0.16 percent to conclude the session at 22,664.63 points.

Stock dealer Khalil Usmani observed that bearish trend was seen in the market and the main reason was rumour about capital gains tax.

Stock traded 225.976 million shares after opening at 266.068 million shares. Trading took place in 370 stocks where 144 closed in positive, 140 in negative while the values of 86 stocks remained intact.

Jahangir Siddiqi Company continued its first position in active list with 23.485 million shares as it closed at Rs 19.58 after opening at Rs 18.58, Azgard Nine was on the second position with 22.225 million shares as it closed at Rs 7.87 after opening at Rs 6.88 and BOP was on the third with 21.942 million shares as it closed at Rs 9.47 after opening at Rs 8.56, followed by Js Bank Ltd, Engro Polymer, D.G.K Cement, JS Investment Ltd, Lafarge Pakistan, Pervez Ahmed and K.E.S.C.

Wyetk Pak Ltd.XD and Service IndXD were the highest price gainers of the day, up by Rs 26.80 and Rs 9.14, while the losers were led by Indus Dyeing and Fazal Textile, down by Rs 13.63 and Rs 12.00 respectively.