Thursday saw the benchmark index at Karachi stocks market nose-diving by 151.65 points or 1.07 percent on the back of political uncertainty arising from the Supreme Court’s conviction of the Prime Minister in the contempt of court case.
The KSE100-share index closed at 14,066.09 points compared to 14,217.74 of the previous session. The KSE 30-share index shed 111.60 points to close at 12,360.72 points as compared with 12,472.32 points.The analysts said even the positive impacts of the newly-promulgated Presidential Ordinance could not restore the investors’ sentiments that shattered soon after the reports of Prime Minister’s conviction were aired by the television channels early in the morning.
The market turnover also remains negative and traded 270.527 million shares after opening at 306.800 million shares. The overall market capitalization declined 0.09 percent and traded Rs 3.594 trillion as against Rs 3.634 trillion. Losers outnumbered gainers 98 to 208, while 66 stocks were unchanged.
The KMI 30-share was down by 155.01 points to close at 24,384.01 points from its opening at 24,503.02 points. The KSE all-share index closed with a loss of 109.13 points to 9,868.95 points as against 9,978.08 points.
Jahangir Siddiqui Company Limited was the volume leader in the share market with 37.990 million shares as it closed at Rs 16.92 after opening at Rs 17.92, declined 1 rupee. IGI Investment Bank traded 17.105 million shares as it closed at Rs 3.24 after opening Rs 3.55 loosing 29 paisas. P.T.C.L.A traded 17.078 million shares as it closed at Rs 12.71 from its opening at Rs 13.37, decreasing Rs 66 paisas. Fauji Cement traded 16.166 million shares and closed at Rs 6.28 as against its opening at Rs 6.52, shed by 24 paisas. D.G.K Cement traded 14.752 million shares as it closed at Rs 40.25 as compared to its opening at Rs 42.29, decreasing Rs 2.4 rupee.
On the future market, the turnover decreased to 21.099 million against 22.367 million shares of Wednesday. The Unilever Food and Pakistan Gum & Chemical XD and, up Rs 106.63 and Rs 6.13, led highest price gainers while, Nestle Pakistan XD and, Unilever Pakistan Limited down Rs 212.78 and Rs 35.61 respectively, led the losers.
