KARACHI - Stock closed lower on profit-taking post major earning announcements at KSE. Consolidation in blue-chip stocks, uncertainty in global stocks and commodities, security concerns in the city and concerns for rising circular debt in Pakistan energy sector played a catalyst role in bearish sentiments at KSE, market, analyst observed here on Wednesday.

The Karachi stock market benchmark KSE-100 share index shed by 83.17 points or 0.55 percent to close the day’s trading at 15,151.31 points after opening at 15,234.48 points of a day earlier.

Dealers said after a gain of 200 points in last 2 trading sessions, the investors opted to book profits.

Selling was led by telecommunication sector especially PTC on news that Competition Commission has some reservations on the development related to ICH (international clearing house), equity experts observed here on Wednesday.

KSE-Allshare index misplaced 60.67 points or 0.56 per cent to end the day at 10,679.91 points, KSE-30 share index lost 99.60 points or 0.76 percent to conclude the session at 12,990.55 points while KMI-30 share index vanished 77.24 points or 0.29 percent to lock the day at 26,786.84 points.

Stock market traded 203.644 million shares after opening at 312.490 million shares and the value of traded shares was reduced to Rs 4.207 billion from 7.224 billion. Share market capitalisation settled at Rs 3.861 trillion as compared to Rs 3.883 trillion of a day earlier.

Trading took place in 317 companies where losers out numbered the gainers 177 to 113 while the values of 27 stocks remained intact. Rafhan MaizeXD was the biggest price gainer of the day up by Rs 100 to Rs 3,885 followed by Nestle Pakistan Limited increased by Rs 48 to Rs 4050. Colgate Palmolive and Mithechells Fruit were the top losers of the day down by Rs 57.23 to Rs 1,296 and Rs 13 to Rs 360.

Active list was topped by PTCLC with 33.594 million shares as it closed at Rs 16.38 after opening at Rs 17.29 shed by Rs 1.9. Pace (Pak) Limited was on the second position 15.500 million shares up by Re 0.33 to stop at Rs 3.10. It was followed by Telecard Limited with 15.097 million shares shrunk by Re 0.23 to close at Rs 2.44, WorldCall Telecom with 11.959 million shares down by Re 0.45 to stop the day at Rs 2.71 and TRG Pakistan Limited with 10.553 million shares misplaced by Re 0.7 to finish at Rs 4.04.