Pakistan Stocks closed lower on amid profit-taking in stocks across the board ahead of federal budget announcements due early next month. Viewed by Ahsan Mehanti, Director at Arif Habib Investments Limited. The Karachi Stock Exchange (KSE) 100-share index declined 109.26 points or 0.77 percent to close at 14,032.82 points as compared to 14,142.08 points of the previous session. The KSE 30-share index shed 79.40 points to close at 12,187.63 points as compared with 12,267.03 points.
The market turnover was down to 175.620 million shares after opening at 179.108 million shares. The overall market capitalization declined 0.04 percent and traded Rs 3.584 trillion as against Rs 3.611 trillion. Losers outnumbered gainers 114 to 151, while 78 stocks were unchanged. Mehanti added “Fall in global commodities and stocks amid Greece debt crises and slowdown in the stock valuations.”
The KMI 30-share was plunged by 148.51 points to close at 24,209.30 points from its opening at 24,357.81 points. The KSE all-share index closed with a loss of 72.33 points to 9,863.49 points as against 9,935.82 points.
Bank Al-Falah was the volume leader in the share market with 16.878 million shares as it closed at Rs 17.77after opening at Rs 17.24, up by 53 paisas. P.T.C.L.A traded 15.676 million shares as it closed at Rs 15.82 after opening Rs 16.02 down by 20 paisas. D.G.K Cement traded 14.968 million shares as it closed at Rs 41.37 from its opening at Rs 41.92, decreasing Rs 55 paisas. TRG Pakistan Limited traded 14.702 million shares and closed at Rs 4.22 as against its opening at Rs 4.22, increase by Rs 68 paisas. Jahangir Siddiqui Company traded 11.958 million shares as it closed at Rs 16.49 as compared to its opening at Rs 16.91, decreasing Rs 50 paisas.
He added that the limited foreign interest, security concerns in the city, uncertainty over federal budget announcements for corporate sector played a catalyst role in bearish sentiments at KSE despite hopes for improvement in Pak-US relations on progress over NATO supplies. On the future market, the turnover decreased to 18.820 million against 20.879 million shares of Tuesday.
The Bata Pakistan Limited and Mithchells Fruit, up Rs 15.39 and Rs 11.70, led highest price gainers while, Unilever Food XD and Unilever Pakistan XD down Rs 90.00 and Rs 86.71 respectively, led the losers.
Trading terminals of two firms deactivated for non-compliance: The Karachi Stock Exchange (KSE) has deactivated all trading terminals of two listed firms for their non-compliance with the Capital Adequacy Requirements under Schedule 5 of the relevant regulations. The A.H.K.D. Securities and INVISOR Securities are the two companies which attracted the front regulator’s ire for failing to submit their bi-annual Net Capital Balance Certificates within prescribed period.
Schedule 2.1 of the Regulations Governing Risk Management of the Exchange requires the listed firms to submit their bi-annual Net Capital Balance Certificates. The deactivation has been given affect from May 07 (2012).
According to KSE, it may allow reactivation of the defaulting firms’ trading terminals under Regulation 44 (2) of the General Regulations after expiry of at least 10 business days of such deactivation. This, however, is subject to the removal of causes of such disciplinary actions by the respective members, the regulator clarified.
