KARACHI – The Karachi stock market started the new year (2013) on a dismal note as stocks closed lower Tuesday on institutional profit-taking amid concerns over rising political uncertainty.
KSE allshare-index lost 64.52 points or 0.54 per cent to close the day at 11899.72 points, KSE 30-share index shed 69.06 points or 0.50 per cent to end the day at 13,694.94 points while KMI 30-share index lost 154.68 points or 0.53 per cent to conclude the day at 28,970.87 points.
Market traded 119.677 million shares after opening at 177.671 million shares and the value of traded shares decreased to Rs 2.139 billion from Rs 4.438 billion. The stock market capitalization settled at Rs 4.219 trillion compared to Rs 4.242 trillion of a day earlier.
Out of 342 stocks, losers held a strong lead over the gainers by 239 to 83 while the values of 20 stocks remained intact. Unilvever Pak was the top loser of the day, down by Rs 100 to Rs 10000 while the Noon Pakistan was the top price gainer of the day, up by Rs 2.53 to Rs 53.23.
BOP was the volume leader of the day with 15.818 million shares as it closed at Rs 9.71 after opening at Rs 10.70. PIAC (A) was on the second position with 11.324 million shares, up by Re 0.39 to Rs 4.42.
It was followed by Byco Petroleum, shed Re 0.35 to Rs 14.10, JS Company with 7.833 million shares, dowm Re 0.56 to Rs 15.58 and Silk Bank Limited with 5.100 million shares, off by Re 0.07 to Rs 2.21.