KARACHI - Stocks closed bearish on institutional profit taking. Investors booked profits as consolidation continued in blue chip stocks.

The Karachi stock market benchmark KSE-100 share index misplaced 41.83 points or 0.27 percent to end the day at 15,357.59 points as compared to 15,399.42 points of a day earlier.

Ahsan Mehanti analyst at Arif Habib said uncertainty in global stocks, fall in rupee dollar parity ahead of IMF loan repayment affected the sentiments. Trade volume remained thin on security concerns in the city. Institutional support in cement, energy sector stocks on strong valuations led the index to close above its days low, he added.

KSE-Allshare index shed by 24.18 points or 0.22 percent to close the day at 10,838.75 points, KSE-30 share index fell by 29.24 points or 0.23 percent to finish the day at 12,929.19 points while KMI-30 share index lost 62.67 points or 0.23 percent to conclude the trading session at 27,197.45 points.

Stock experts said with low volumes, activity remained confined in mid cap stocks particularly in cement sector. Although index closed in negative primarily on account of decline in index heavy weight OGDC but cherry picking was seen in cement stocks amid improved dispatches for the month. LPCL remained the volume leader followed by PTC and DGKC.

Equity turn over in term of shares was 86.628 million as compared to 82.670 million shares of a previous day and the value of shares extended to Rs 2.729 billion from Rs 2.254 billion. The capitalisation of equity market settled at Rs 3.877 trillion after opening at Rs 3.886 trillion.

Out of 330 scrip’s 170 closed in negative and 139 in positive while the values of 21 stocks not changed. Siemens Pakistan was the loser of the day down by Rs 42.50 to Rs 807.50 followed by Wyeth Pak Limited off by Rs 42 to Rs 871. Top gainers were led by Indus Dyeing and Mithchells Fruit up by Rs 20.95 to Rs 439.95 and Rs 14.99 to Rs 358.99 respectively.

In the top ten scrips of the trading session, Lafarge Pakistan was the volume leader of the day with 9.658 million shares gained Re 0.30 to close at Rs 5.63 after starting at Rs 5.33. PTCLA took the second highest position in equity market with 6.234 million shares off by Re 0.30 to stop at Rs 19.37. It was followed by Dera Ghazi Khan Cement with 4.800 million shares added Re 0.78 to finish at Rs 49.16, Fauji Fert Bin with 4.600 million shares lost Re 0.57 to Rs 35.83 and Colony Mills Limited with 3.578 million shares higher by Re 0.27 to lock at Rs 2.77.