KARACHI

Stocks closed lower amid concerns for outcome of government refusal to meet demand of PAT and PTI protesters across the country.

The KSE benchmark 100-index shed 36.92 points or 0.13 percent to stop the trading at 27774.43 points compared to 27811.35 points of the previous day.  KSE-Allshare index increased by 53.33 points or 0.26 percent to stop the day at 20470.86 points, KSE-30 index misplaced 99.62 points or 0.51 percent to close the session at 19265.48 points while KMI-30 index fell by 138.41 points or 0.31 percent to conclude the day at 45236.12 points.

Ahsan Mehanti analyst at Arif Habib Corp said rupee instability, political deadlock impacted the sentiments however later session support by state owned institutions, speculations for PC decision on OGDC GDRs at London Stock Exchange for $850m sale in the midst of political crisis supported to index to close flat.

Fall in banking spreads, huge losses on political crisis played a catalyst role in bearish activity at KSE despite Supreme Court ruling on refund of GIDC for industrial sector, he added. The day turn of market was 115.461 million shares compared to 132.312 million shares of the previous day. Value of traded shares declined to Rs 6.372 billion from Rs 6.802 while the capitalisation of the market settled at Rs 6.553 trillion after opening at Rs 6.535 trillion of a day earlier.  Trading took place in 319 companies where 132 closed in green and 162 in negative while the value of 25 stocks remained intact. Nestle Pak was the biggest price gainer of the day up by Rs 230.80 to Rs 7730.80 followed by Wyeth Pak Ltd added Rs 160 to Rs 3360.11. Rafhan MaizeXD and Sanofi Aventis were the biggest price losers of the day decreased by Rs 199 to Rs 10501 and Rs 36.50 to Rs 693.50.  Top ten scrips were led by Maple Leaf Cement with 9.763 million shares grew by Re 0.47 to Rs 25.47. Bank of Punjab was the second highest on the volume chart with 7.853 million shares up by Re 0.11 to Rs 7.91. It was followed by Pak Elektron Ltd with 7.569 million shares increased by Rs 1.14 to Rs 28.76, K-Electric with 5.873 million shares off by Re 0.04 to Rs 6.71 and TRG Pakistan LtdXR with 4.396 million shares higher by Re 0.57 to Rs 10.22.