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At Karachi stock market benchmark KSE-100 share index shed 85.14 points or 0.61 percent to finish the day’s trading at 13,786.62 points as compared to the 13,871.76 points of the previous session. Experts said falling global markets and weak local currency kept investors on the sidelines. As a result of this market remained in narrow band with low volumes.
Cement sector remained under focus on conflicting news regarding reduction in excise duty in the new budget. PPL witnessed good activity after news that government has revised upward its public offering price, she added. KSE-Allshare index lost 56.97 points or 0.58 percent to end the day at 9,714.33points, KSE-30 share index decreased 70.28 points or 0.58 percent to close the day at 11,951.07 points while KMI-30 share index misplaced 117.17 points or 0.49 percent to end the day at 23,976.43 points.
Analyst observed uncertain global stocks and commodities, concerns over fall in rupee-dollar parity amid macroeconomic instability and uncertainty over Pak-US relations on NATO supply issue played catalyst role in bearish sentiments despite support in cement and power sector on pre-budget speculations.
Trading took place in 365 companies where losers outnumbered gainers 185 to 106 while the values of 74 stocks remained intact. Bourse traded 124.763 million shares after opening at 129.271 million shares and the value of trading shares was Rs 5.658 billion as compared to the Rs 5.643 billion of the previous session.
DGK Cement was the top traded company of the day with 12.394 million shares as it closed at Rs 41.14 after opening at Rs 41.49 shed Re 0.35. JS.Co was on the second position with 11.123 million shares off Re 0.77 to Rs 14.85. It was followed by Engro Corporation with 9.459 million shares down Re 0.9 to Rs 107.60, Lucky Cement with 7.987 million shares off Re 0.09 to Rs 126.29 and Engro Foods Limited with 5.753 million shares misplaced Rs 3.01 to Rs 65.19.
Rafhan MaizeXD and Mithchells Fruit were the highest price gainers of the day increased by Rs 20.70 and Rs15.79 while the top losers were led by UniLever PakXD and Nestle Pakistan Ltd down by Rs 68.61 and Rs 20.44 respectively.
