KARACHI - Stocks closed bearish amid institutional profit taking in stocks across the board on concerns for unrest in the city and fall in global stocks on Eurozone debt crisis.
Analyst observed trade remained thin in the short session at KSE ahead of major corporate earning announcements due this week. Investors remained cautious ahead of Supreme Court reaction on contempt law to protect Prime Minister amid concerns for macroeconomic instability.
KSE-Allshare index shed by 28.37 points or 0.28 percent to end the day at 10,216.88 points, KSE-30 share dropped 19.74 points or 0.16 percent to close the day at 12,604.16 points while KMI-30 share index decreased by 46.36 points or 0.19 percent to finish the day at 24,973.35 points.
Market traded 27.548 million shares after opening at 96.121 million shares and the value of traded shares was reduced to Rs 0.935 billion from Rs 3.154 billion. Stock market capitalisation settled at Rs 3.706 trillion as compared to the Rs 3.717 trillion of a day earlier.
Trading took place in 223 companies where losers outnumbered the gainers 128 to 70 while the values of 25 stocks remained intact. Rafhan Maize was the biggest price gainer of the day up by Rs 168.26 to Rs 3,533.60 followed by Unilever Food higher by Rs 59.02 to Rs 2,900.00. National Foods and ICI Pakistan were the top losers of the day decreased by Rs 10.05 to Rs 204.03 and Rs 7.82 to Rs 158.96.
JS.Co was the volume leader of the day with 4.755 million shares as it closed at Rs 15.02 off Re 0.46. Fauji Fertilizer was on the second position with 1.726 million shares gained Rs 1.11 to finish at Rs 118.16.
It was followed by Descon Oxychem with 1.488 million shares added Re 0.38 to Rs 4.34, Nishat Mills Limited with 1.232 million shares decreased by Re 0.33 to Rs 52.22 and Dera Ghazi Khan Cement with 1.012 million shares shed by Re 0.2 to lock at Rs 44.78.