karachi

Stocks closed lower in future contract rollover week at KSE as investors booked profits against expected commitments on $815m OGDC GDS sales and IPO Engro powergen.

At local equity market benchmark KSE-100 share index shed 47.97 points or 0.16 percent to end the day at 30095.80 points compared to 30143.77 points of the previous day. KSE-Allshare index off by 27.81 or 0.13 percent to finish the day at 22048.20 points, KSE-30 index misplaced 91.95 points or 0.45 percent to close the session at 20566.04 points while KMI-30 index fell by 148.92 points or 0.30 percent to conclude the trading at 49063.31 points.  Analysts said SBP status quo in Sep ‘14 policy announcements last week, falling banking spreads reported in Aug’14, concerns for rising current account deficit data, falling FDIs on political crisis and pending over Rs230b circular debt in energy sector played a catalyst role in bearish activity at KSE.

The day turn over of market in term of shares was 179.028 million shares compared to 164.252 million shares of a day earlier. Value of traded share was climbed to Rs 11.037 billion from Rs 9.521 billion. Capitalisation of market maintained at Rs 7.007 trillion after opening at Rs 7.016 trillion.

Trading took place in 429 companies where 205 closed in positive and 201 in negative while the value of 23 stocks remained intact. Nestle Pak. XD and Colgate Palmolive XD were the top price losers of the day decreased by Rs 80 to Rs 7800 and Rs 20 to 1500. Murree Brewery and Sanofi-Aventis were the biggest price gainers of the day increased by Rs 50 to Rs 1050 and Rs 30 to Rs 795.

Volume chart was led by K-Electric with 15.290 million shares shed Re 0.43 to Rs 7.76. Nishat Mills Ltd was the second highest on active list with 5.189 million shares as it closed at Rs 122.72 after opening at Rs 118.90. It was followed by Bank of Punjab with 5.170 million, Pak Elektron Ltd with 4.771 million, Adam Jee Ins with 4.749 million, National Bank with 4.304 million, Engro Polymer with 4.225 million, Sitara Peroxide with 3.975 million, Lafagre Pak with 3.974 million and GlaxoSmithKline with 3.604 million shares respectively.