KARACHI - Stocks closed bearish on security concerns in the city ahead of anti-film protests on national holiday due today. Activity remained limited on lack of triggers post major corporate earnings announcements at KSE, analyst observed here on Thursday.
Experts said major fall in global commodities and stocks on weak economic data from Asia and Europe played a catalyst role in bearish sentiments amid consolidation in blue ship stocks.
KSE-Allshare index shed by 91.77 points or 0.83 percent to stop the day at 10,901.20 points, KSE-30 share index off by 153.21 points or 1.16 percent to close the day at 13,024.57 points while KMI-30 share index lost 315.62 points or 1.14 percent to finish the day’s trading at 27,298.14 points.
Market traded 159.264 million shares after opening at 131.865 million shares and the value of traded shares was shrunk to Rs 4.298 billion from Rs 5.341 billion. Capitalisation of stock market settled at Rs 3.912 trillion from Rs 3.948 trillion of a day earlier.
Out of 346 companies traded, 130 closed in positive and 198 in negative while the values of 18 stocks not changed. Nestle Pakistan witnessed the highest increase, up by Rs 50 to close at Rs 4,150 followed by Siemens Pakistan increased by Rs 35.92 to end at Rs 954.99 while Rafhan Maize witnessed a major decline off by Rs 54.44 to stop at Rs 4397 followed by Pak Gum & Chemical which fell by Rs 11.02 to close at Rs 211.05.
Active list was again topped by PTCLA with 16.150 million shares off by Re 0.85 to close at Rs 19.02. KESC was on the second position with 14.559 million shares shed by Re 1 to end at Rs 6.65. It was followed by NIB Bank with 13.618 million shares decreased by Re 0.01 to close at Rs 2.63, Invest Bank with 5.450 million shares gained Re 0.20 to locked the day at Rs 1.05 and IGI Inv.Bank with 4.725 million shares increased by Re 0.41 to conclude at Rs 2.58.
Samar Iqbal equity dealer at Topline Securities said, an eventful week of Attock group results and NRO case hearing ended on meager gains of 3 points on week on week basis with volumes dropped by 21pc to an average of 130 million shares.
She further said although handsome full year payout announcement from Attock group and signs of reconciliation between judiciary and government on NRO case reflected positively on the market which touched 15,600 points mark during the week.
However, fall in global equity markets and decline in international oil prices brought across the board selling on the last trading session, she said and added risk of deteriorating law and order situation during long weekend also pushed investors to trim their positions. Increasing leverage positions also remained a reason of concern as futures roll over will start from Monday.