Pakistan Stocks closed lower on profit-taking post major earning announcements at KSE. Consolidation in blue-chip stocks, uncertainty in global stocks and commodities, security concerns in the city and concerns for rising circular debt in Pakistan Energy sector played a catalyst role in bearish sentiments at KSE. This was opined by Ahsan Mehanti, Director at Arif Habib Investments Limited.
On Wednesday, negative trend was seen at Karachi Stock Exchange. At local equity market benchmark KSE-100 share index misplaced 83.17 points or 0.55 percent to finish the day’s trading at 15,151.31 points as compared to 15,234.48 points of the second working day of the week on Tuesday. The trading volumes at the ready-counter were recorded lower at 203.644 million shares against 312.490 million shares of the previous day. The trading value decreased to Rs 4.207 trillion compared to Rs 7.224 trillion of the previous session. The intraday high and low, respectively, stood at 15, 255.82 and 15, 127.91 points.
He stated that the Volumes remained lower amid support from institutions leading the index to close above its days low. KSE-All share index shed 60.67 points or 0.56 percent to stop the day at 10,679.91 points, KSE-30 share index lost 99.60 points or 0.76 percent to end the day at 12,990.55 points while KMI-30 share index shed 77.24 points or 24 percent to close the day at 26,786.84 level. Trading took place in 317 companies where loser out numbered gainers 113 to 177 while values of 27 stocks remain intact. P.T.C.L.A was the top traded company of the day with 33.594 million shares lost Rs 0.91 to Rs 16.38. Pace Pakistan Limited was on the second position with 15.500 million shares shed Rs 0.33 to Rs 3.10. it was followed by Telecard Limited, WorldCall Telecom, TRG Pakistan Limited, NIB BANK Limited, Jahangir Siddiqui Company and Fauji Cement with turn over of 15.097 million, 11.959 million, 10.553 million, 9.589 million, 7.923 million, and 7.226 million shares respectively. Rafhan Maize XD was the biggest price gainer of the day increased by Rs 100.00 to stop Rs 3885.00 followed by Nestle Pakistan Limited up Rs 48.00 to end at Rs 4050.00. Major loser included Colgate Palmolive down by Rs 57.23 to lock at Rs 1296.00 and Mithchells Fruit off Rs 13.00 to close at Rs 360.00 respectively.
