KARACHI - Stocks recovered from session lows led by blue chip banks, fertilizers on expectations of strong earning announcements and short covering in selected scrips.
At local bourse benchmark KSE-100 index share shed 77.21 points or 0.65 percent to stop the day at 11883.01 points as compare to the 11960.22 points of the last working day on Friday. KSE-Allshare index fell 53.91 points or 0.65 percent to finish the day at 8231.91 points.
KSE-30 share index slumped 46.06 points or 0.41 percent to end the day at 11170.50 points while the KMI-30 index misplaced 168.83 points or 0.77 percent to conclude the day at 21657.37 levels.
Stocks closed bearish at KSE on institutional profit- taking after record earnings announcements by Lucky Cement and Fauji Fertilizer, said Ahsan Mehanti Director Arif Habib Corporation.
Limited foreign interest, fall in global stocks and uncertain political outlook played a catalyst role in bearish sentiment at KSE, he added.
Market traded 67.056 million shares after opening at 75.602 million shares. Trading took place in 303 companies where 60 close in positive and 169 in negative while the value of 74 stocks remained intact.
Fauji Fertilizer was the volume leader of the day with 12.947 million shares as it close at Rs 187.08 after opening at Rs 186.17 followed by Jahangir Siddiqi Company, Fauji Fertilizer Bin Qasim, Engro Corporation and World Call Telecom with the turn over of 6.501 million, 4.499 million, 3.928 million and 3.853 million shares respectively.
Mithchells XD and PSO were the highest price gainer of the day increased by Rs 4.15 and Rs 3.04 while the top looser led by Unilever Pak Foods and Bata Pakistan Limited down by Rs 85.75 and Rs 33.25 respectively.