KARACHI: The KSE-100 index on Monday registered heavy decline of 219.40 points and closed at the level of 13,077.72 points due to profit taking opted by local investors and institutions.
The market opened on a positive note on the back of investors’ interest in some selective stocks and the index hit 13,329.19 points intra-day high level. However, the momentum could not continue as the local investors and institutions opted for profit taking and the index dropped into negative zone at 13,042.67 points intra-day low level.
Trading activities also reduced as the volumes at ready counter declined to 256.860 million shares as compared to 426.213 million shares traded on last trading session. Total market capitalization declined by Rs 61 billion to stand at Rs 3.381 trillion. Of the total 384 active stocks, 234 closed in negative and 77 in positive while the value of 73 stocks remained unchanged.
Jahangir Siddiqui Co was the volume leader with 21.331 million shares, however lost Re 1.00 to close at Rs 17.39 followed by Lafarge Pakistan that closed at Rs 3.59, down Re 0.28 with 17.654 million shares. Dewan Cement inched up by Re 0.16 to close at Rs 4.22 with 17.309 million shares while Fauji Cement and DG Khan Cement declined by Re 0.26 and Re 0.46 to close at Rs 5.18 and Rs 30.30 with 8.055 million shares and 7.827 million shares respectively. KESC gained Re decreased by Re 0.54 to close at Rs 2.83 with 11.805 million shares.
In the banking sector, JS Bank and BoP declined by Re 0.47 and Re 0.93 to close at Rs 5.82 and Rs 7.99 with 10.250 million shares and 8.471 million shares respectively.
WorldCall Telecom gained Re 0.22 to close at Rs 2.40 with 10.031 million shares. Azgard Nine lost Re 0.69 to close at Rs 6.25 with 7.950 million shares.
Siemens Pakistan and Unilever Pak were the highest gainers increasing by Rs 35.89 and Rs 34.90 to close at Rs 789.00 and Rs 5750.00 respectively while Nestle Pakistan and Rafhan Maize were the worst losers declining by Rs 137.83 and Rs 89.34 to close at Rs 4262.17 and Rs 2750.00 respectively.