On Tuesday an ever so slight bearish trend arrived in Karachi Stock Exchange (KSE) 100-share as the index declined 01.53 points or 0.001 percent to close at 14, 672.24 points as compared to 14, 673.77 points of the previous session. The KSE 30-share index shed 03.91 points to close at 12, 625.46 points as compared with 12, 629.37 points.
The Pakistan Stocks closed lower amid thin volumes ahead of major earning announcements due this week on cautious activity ahead of SBP Policy announcement, viewed by Ahsan Mehanti, Director at Arif Habib Investments Limited. The market turnover was remain negative and decreased to 44.962 million shares after opening at 58.117 million shares. The overall market capitalization declined 0.02 percent and traded Rs 3.747 trillion as against Rs 3.749 trillion. Losers outnumbered gainers 155 to 105, while 31 stocks were unchanged.
Mehanti added “Concerns for rising circular debt in Pakistan Energy sector, decline in cement dispatches, power shortfall for industrial sector and expected fall in fertilizer prices played a catalyst role in bearish sentiments despite recovery in global stocks and commodities on Euro zone stimulus hopes and improved US job data.”
The KMI 30-share was up by 43.52 points to close at 25, 484.33 points from its opening at 25, 440.81 points. The KSE all-share index closed with a loss of 3.77 points to 10, 323.05 points as against 10, 326.82 points.
Jahangir Siddiqui Company was the volume leader in the share market with 2.743 million shares as it closed at Rs 14.45 after opening at Rs 14.71. Engro Corporation traded 2.557 million shares as it closed at Rs 89.82 after opening Rs 88.71. Quice Food traded 2.363 million shares as it closed at Rs 12.23 from its opening at Rs 11.24. National Bank Pakistan traded 1.848 million shares and closed at Rs 43.88 as against its opening at Rs 44.36. Maple Leaf Cement traded 1.723 million shares as it closed at Rs 6.86 as compared to its opening at Rs 6.67.
On the future market, the turnover remained negative to 3.216 million against 3.664 million shares of first working day of the week Monday. The Millat Tractors and Atlas Battery Limited, up Rs 22.83 and Rs 12.49, led highest price gainers while, Shezan Inter and Fazal Textile down Rs 13.00 and Rs 9.86 respectively, led the losers.