Karachi - Stocks closed bearish after major fall in international oil prices to 4 year low weakening earnings outlook in blue chip oil stocks expected to incur inventory losses.

At t local equity market benchmark KSE-100 share index further reduced 72.12 points or 0.23 percent to end the day at 31197.98 points compared to 31270.10 points of a day earlier.

Equity expert said higher DAP sales data for Oct ‘14, Record low CPI data expected for Nov’14, institutional interest in power sector expected to benefit from lower furnace oil prices failed to impact to sentiments ahead of protest rally called in by PTI. KSE-Allshare index off by 174.81 points or 0.76 percent to stop the day at 2 2706.46 points, KSE-30 index fell by 114.94 points or 0.56 percent to end the day at 20332.81 points while KMI-30 index fell by 235.67 points or 0.47 percent to conclude the session at 49786.79 points.

Out of 377 companies 219 closed in positive and 143 in negative while the value of 15 stocks remained intact. Wyeth Pak Ltd and Nestle Pak.XD were the top price losers of the day decreased by Rs 208.76 to Rs 3966.49 and Rs 150 to Rs 8450. Colgate Palmolive and Services Ind.

Ltd were the highest price gainers of the day increased by Rs 83 to Rs 1783 and Rs 44.50 to Rs 989.53.  Index kept declining amid falling oil stocks due to declining commodity prices while investors’ interest in IPPs, Fertilizer and cements stocks supported benchmark index decline, equity expert observed here.   The day turnover of market was 240.445m shares after opening at 197.718m shares and the value of traded shares climbed to Rs 13.550b from Rs 9.585b while the capitalisation of the market maintained at Rs 7.152 trillion compared to Rs 7.206 trillion of day earlier.

   Active list was topped by JS Co with 19.961m shares without any change the share value maintained at Rs 14.72. Pak Elektron was the second highest on volume chart with 13.866m shares up by 0.90 to Rs 30.70.  It was followed by Maple Leaf Cement with 13.545 million shares grew by Rs 1.65 to Rs 36.65, K-Electric Ltd with 11.993 million shares up by Re 0.43 to Rs 7.63 and PTCL with 8.855 million shares gained Re 0.61 to Rs 22.