KARACHI - The stock market closed lower on Tuesday, with investors preferring to stay on the sidelines in the absence of any trigger.

Decline in heavy weight OGDC and MCB took its toll on index while investors’ interest was seen shifted towards dividend yielding Hub Power Company and FFC, a dealer observed.  At local equity market, the benchmark KSE 100-share index shed 89.76 points or 0.50 per cent to end the day at 17872.15 points compared to 17961.91 points of a day earlier.

KSE allshare-index decreased by 69.13 points or 0.55 per cent to close the day at 12553.33 points, KSE 30-share index shed 82 points or 0.58 per cent to conclude the day at 14165.31 points while KMI 30-share index lost 74.77 points or 0.24 per cent to stop the day at 31222.45 points.

Equity market traded 149.573 million shares on Tuesday after opening at 153.669 million shares and the value of traded shares minimized to Rs 3.828 billion from Rs 4.847 billion. Capitalization of stock market settled at Rs 4.360 trillion compared to 4.385 trillion of a day earlier.

During the session, 314 companies participated in the trading where losers beat the gainers by 179 to 116 while the value of 19 stocks remained intact. UniLever Pak was the biggest price gainer of the day, up by Rs 190 to Rs 11100, followed by Sanofi-Aventis Pak, increased by Rs 16 to Rs 377. Bata (PAK) and Fazal Textile were the top losers of the day, down by Rs 66 to Rs 1259 and Rs 12.13 to Rs 230.61.

Active list was again topped by P.I.A.C (A) with 38.797 million shares as it closed at Rs 7.40 after opening at Rs 6.82. TRG Pakistan Limited was on the second position with 11.799 million shares. It was followed by Fauji Cement with 10.523 million shares, off by Re 0.11 to Rs 8.42, Lotte PakPTA with 8.240 million shares, higher by Re 0.31 to Rs 7.61 and Maple Leaf Cement with 8.194 million shares, lost Re 0.44 to Rs 17.20.