KSE sheds 15.81 points

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KARACHI: Stocks closed lower amid record low trades on cautious activity in blue chip stocks after verdict on Speakers ruling case, analyst observed here on Wednesday. At local equity market benchmark Karachi Stocks Exchange-100 share index lost 15.81 points or 0.12 percent to stop the day's trading at 13,667.18 points as compared to 13,682.99 points of a day earlier. Market experts at Arif Habib, Ahsan Mehanti said investors awaited announcements regarding nomination of new PM and KSE 100 index traded in narrow range despite recovery in global stocks and commodities.

Gas shortage for fertilizer sector, power crisis for industrial sector and circular debt issues in energy sector played a catalyst role in bearish sentiments at KSE, he added. KSE-Alls hare index misplaced 12.90 points or 0.13 percent to end the day at 9,625.90 points, KSE-30 share index shed by 17.07 points or 0.14 percent to close the day at 11,835.43 points while KMI-30 share index dropped 37.95 points or 0.16 percent to lock the day 23,667.83 points. Bourse traded 47.417 million shares after opening at 75.992 million shares and the trading value was minimised to Rs 1.735 billion from Rs 2.547 billion while the market capitalisation came down to Rs 3.488 trillion as compared to Rs 3.492 trillion of the previous day.

Trading took place in 344 stocks where losers beat the gainers 144 to 114 while the values of 86 companies not changed. UniLever Pak was the highest price gainer of the day increased by Rs 39.09 to Rs 7300.00 followed by Nestle Pakistan Limited higher by Rs 25.14 to Rs 4079.57. The down hill trend were seen in Mithchells Fruit decreased by Rs 13.29 to Rs 285.79 and Island Textile off by Rs 9.43 to Rs 217.62. JS.Co maintain its first position on third consecutive day of trading week with 4.696 million shares as it closed at Rs 13.32 after opening at Rs 13.46 shed Re 0.14. DGGK Cement was on the second position with 3.450 million shares off Re 0.31 to Rs 40.03. It was followed by Hub Power Company with 2.905 million shares lost Re 0.19 to Rs 41.80, Lotte PakPTA with 2.618 million shares gained Re 0.22 to Rs 7.57 and Fauji Fertilizer Binqasim with 2.389 million shares added Re 0.18 to Rs 41.11.

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