Pakistan Stocks closed lower post major quarter end earnings announcements at KSE amid institutional profit-taking. Viewed by Ahsan Mehanti, Director at Arif Habib Investments Limited.
The Karachi Stock Exchange (KSE) 100-share index declined 23.32 points or 0.17 percent to close at 14,042.77 points as compared to 14,066.09 points of the previous session. The KSE 30-share index shed 14.41 points to close at 12,346.31 points as compared with 12,360.72 points. The market turnover remains negative and traded 196.158 million shares after opening at 270.527 million shares. The overall market capitalization declined 0.04 percent and traded Rs 3.587 trillion as against Rs 3.594 trillion. Losers outnumbered gainers 131 to 169, while 58 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 4.23 points to close at 24,343.78 points from its opening at 24,348.01 points. The KSE all-share index closed with a loss of 19.83 points to 9,849.12 points as against 9,868.95 points. Jahangir Siddiqui Company Limited was the volume leader in the share market with 15.211 million shares as it closed at Rs 15.92 after opening at Rs 16.92, down by one rupee. National Bank XDXB traded 13.775 million shares as it closed at Rs 47.08 after opening Rs 48.80 gaining 1.72 rupee. D.G.K Cement traded 12.644 million shares as it closed at Rs 40.12 from its opening at Rs 40.25, decreasing Rs 13 paisas. Fauji Cement traded 11.380 million shares and closed at Rs 6.49 as against its opening at Rs 6.28, rising 0.21 paisas. Lafarge Pakistan traded 9.124 million shares as it closed at Rs 5.00 as compared to its opening at Rs 4.94, increasing Rs 04 paisas. On the future market, the turnover recovers remarkably by 24.011 million against 21.099 million shares of last working day of the week. The Unilever Food and Unilever Pakistan Limited and, up Rs 111.96 and Rs 109.87, led highest price gainers while, Siemens Pakistan and, Sanofi-Aventis XD down Rs 33.73 and Rs 7.00 respectively, led the losers.
Bears prolong party
