Pakistan Stocks closed lower in the earnings announcement session at KSE as investors await announcements on revised CGT regime. Viewed by Ahsan Mehanti, Director at Arif Habib Investments Limited.
The Karachi Stock Exchange (KSE) 100-share index declined 8.48 points or 0.06 percent to close at 13,929.47 points as compared to 13,937.95 points of the previous session. The KSE 30-share index shed 26.27 points to close at 12,179.78 points as compared with 12,206.05 points.
The market turnover remains positive and traded 307.931 million shares after opening at 261.515 million shares. The overall market capitalization declined 0.05 percent and traded Rs 3.572 trillion as against Rs 3.575 trillion. Losers outnumbered gainers 141 to 166, while 75 stocks were unchanged.
Mehanti added “Stronger corporate earnings in oil and cement sectors invited limited institutional support. Concerns loomed over uncertain economic outlook and limited foreign interest as global commodities showed falling trend.”
The KMI 30-share was down by 33.39 points to close at 24,061.12 points from its opening at 24,094.51 points. The KSE all-share index closed with a loss of 7.48 points to 9,794.91 points as against 9,802.39 points.
Azgard Nine was the volume leader in the share market with 45.303 million shares as it closed at Rs 9.34 after opening at Rs 9.49, gaining 15 paisas. Bank Al-Falah XD traded 30.260 million shares as it closed at Rs 16.90 after opening Rs 16.06 gaining 84 paisas. Jahangir Siddiqui Company Limited traded 26.167 million shares as it closed at Rs 18.83 from its opening at Rs 17.84, increasing Rs 99 paisas. D.G.K Cement traded 20.827 million shares and closed at Rs 43.32 as against its opening at Rs 41.41, rising 1.91 paisas. Fauji Cement traded 19.463 million shares as it closed at Rs 6.88 as compared to its opening at Rs 7.10, decreasing Rs 22 paisas.
On the future market, the turnover decreased to 18.485 million against 19.946 million shares of Wednesday. The Rafhan Maize XD and Unilever Pakistan Limited and, up Rs 127.38 and Rs 96.40, led highest price gainers while, Nestle Pakistan XD and, Attock Petroleum XD down Rs 61.40 and Rs 13.30 respectively, led the losers.
The return of the profit-taking bears
