KARACHI - stocks closed lower post major corporate earning announcements. Concerns for circular debt in the energy sector, slowdown in cement sector dispatches and uncertainty in global stocks and commodities on stimulus hopes affected the investor sentiments.
At Karachi stock market benchmark KSE-100 share index misplaced 13.77 points or 0.09 percent to stop the day at 15,240.19 points as compared to 15,253.96 points of the last working day on Friday.
Analyst observed that Investors booked profits amid consolidation in blue-chip stocks despite speculations in textile sector after reduction in export refinance rates by 150bps to 9pc.
KSE-Allshare index shed by 10.57 points or 0.10 per cent to close the day at 10,761.77 points, KSE-30 share index decreased by 72.86 points or 0.56 per cent to finish the day at 12,961.25 points while KMI-30 share index off 112.86 points or 0.42 percent to end the day at 26,917.74 points.
Dealers said market remained ranged bound on the first day of the week as investors remained cautious with increase of political noise. Above expectation DGKC’s June result also failed to boost investors’ confidence. Major activity remained skewed towards bottom tier scrips with KESC topped the volume.
Market traded 208.112 million shares after opening at 230.102 million shares and the value of traded shares was reduced to Rs 4.914 billion from 4.935 billion. Stock market capitalisation settled at Rs 3.884 trillion from Rs 3.888 trillion.  Trading took place in 316 companies where losers held a lead over the gainers 169 to 122 while the values of 25 stocks remained intact. Nestle Pakistan Ltd was the highest price gainer of the day up by Rs 175 to Rs 4175 while the down hill trend was topped by Service Industries off Rs 8.09 to Rs 185.15.
Karachi Electric Supply Company was the volume leader of the day with 23.658 million shares up by Re1 to stop at Rs 7.45. PTCLA was on the second position with 19.115 5 million shares shed by Re 0.96 to stop at Rs 19.61. It was followed by JS Bank Ltd with 15.507 million shares gained Re 0.44 to close at Rs 6.20, Sui South Gas with 13.534 million shares added Rs 1.05 to stop at Rs 22.43 and Dera Ghazi Khan Cement with 10.518 million shares off by Re 0.78 to lock the day at Rs 48.75.