KARACHI - The Karachi stock market Friday portrayed a dullish yet highly volatile session especially in the first half as the benchmark 100-index dipped 9.82 points to close at 9,159 level. The local bourse started the day in green zone with a gain of 42.74 points and touched intraday highest level of 9256.94 points. Moreover, parallel KSE 30-index closed at 9,662.87 points with a loss of 20.48 points. The sleepy index was punished by Thursdays unsatisfying announcement regarding OGDCs corporate earnings as investors offloaded the oil giant as if it was a cheap suit. AICLs glory run finally came to a halt but stood its ground before receding into the red zone, only to recover moments before the bell. POL left its E&P competitors eating dust, as it remained positive throughout the day edging out OMC behemoth PSO as well. Trading volumes were fairly low at 179 million shares, down by a big margin of 21 percent as compared to Thursdays session. Total trading value of the exchange remained Rs8.152 billion against last sessions figure of Rs9.171 billion. Sideboard items had a field day as out of 382 active securities 192 closed in positive territory leaving 166 down and 24 unchanged. Market capitalisation slightly decreased to Rs 2.655tr, showing a nominal loss of only Rs2 billion. Profit taking was witnessed at the equity market on limited retail/institutional interest while foreign interest remained on the low side, stated market expert Ahsan Mehanti adding, global equity markets uncertainties, high leverage cost and limited availability of leverage financing remained major concern for investors throughout the session despite strong results announcements in Insurance, banks and cement sector companies. TRG Pak was crowned as the volume leader of the day with a healthy turnover of over 25m shares, followed by Pak PTA with 13.901m shares, Adamjee Insurance 10.053m shares, JSCL 9.538m shares, OGDC 8.646m shares, PTCL 6.945m shares, Bosicor Pak 6.850m shares, AHSL 6.825m shares, Lucky Cement 6.525m shares, HUBCO 5.999m shares namely. Unilever Pak topped the gainers list, adding massive Rs75/share to close at Rs2,375, Bata Pak up by Rs43.84/share, closing at Rs920.85 with a small turnover of just 225 shares, Siemens Pak Engineering gained Rs30/share and closed at Rs1,405, Colgate Palm added Rs18.43/share and its value was improved to Rs387.11, Millat Tractors up by Rs16.03/share to close at Rs354.60. Conversely, Dreamworld lost Rs29/share and its total value was decreased to Rs565 with the trading of only 2 shares, Exide Pak shed Rs10.38/share and closed at Rs204, Sanofi-Aventis down by Rs9.08/share, closing at Rs172.65, EFU Life Assurance shed Rs7.69/share to close at Rs146.13, PSO down by Rs5.81/share and closed at Rs303.01. The broader picture continues to stay blurry as endorsed through the SBPs report suggesting low chances of declining trend in local interest rates to continue due to lack of fiscal space, besides likely hike in inflation numbers highly sensitive to international oil prices will certainly add to the misery, cautious stance is therefore recommended, absence of user friendly ready board leverage will not only be missed but will even restrict consolidation, said analyst Hasnain Asghar Ali. Absence of dollar based buyers might lead to price adjustments in the stocks thereby impacting the bench mark, therefore variables of valuations should be well judged to avoid getting stuck at high price, he added.