Karachi - Stocks closed lower on thin activity amid concerns for economic uncertainty.

Benchmark further decreased by 21.57 points or 0.08 percent to end the day at 25478.93 points compared to 25500.50 points of the previous day.  An equity expert said security unrest in the city following targeted killings, dismal corporate sector payouts played a catalyst role in bearish activity post major announcements at KSE.

Expectations for positive CPI inflation data for Feb’14 and expected policy rate cut next month invited institutional support in selected stocks in leveraged sectors.

KSE-Allshare index added 24.44 points or 0.13 percent to finish the day at 19120.39 points, KSE-30 share index shed by 23.21 points or 0.12 percent to close at 18573.10 points while KMI-30 reduced by 76.80 points or 0.18 percent to end the trading at 42311.50 points.  Market traded 165.085 million shares after opening at 176.004 million shares and the value of traded shares shrink to Rs 4.322 billion from Rs 5.441 billion.  Capitalisation of stock market settled at Rs 6.231 trillion compared to Rs 6.223 trillion f a day earlier.  Trading took place in 375 companies where losers beat the gainers 242 to 115 while the value of 18 stocks remained intact. 

Nestle Pak was the biggest price gainer of the day up by Rs 312.55 to Rs 9625 followed by Pak Tobacco up by Rs 36.33 to Rs 762.93. Wyeth Pak Ltd and Island Textile were the biggest losers of the session off by Rs 201.43 to Rs 4352.87 and Rs 63.56 to Rs 1207.64.  Index closed below 25,500 points, lowest in last 2 months, while volumes declined to 4-month low. Amid lack of triggers, local bourse witnessed another lackluster session with range-bound activity. Continuous interest remained in small cap stocks as TRG and BOP Rights remained the most active scrips with volumes of 23m and 21m, respectively. Habib Bank, Lalpir and Pak Gen Power announced their December quarter results today, Smar Iqbal AVP Equity sales at Topline Securities observed.