Index loses 61.68 points

The KSE-100 index on Tuesday lost 61.68 points and closed at 11,848.05 points due to profit taking by local investors. On the back of foreign investors' support and a fresh inflow of $1.3 million, the index hit 11,948.35 points high. However, the index dropped into negative zone at 11,830.26 points intra-day low level due to selling by local investors.
Trading improved and the volume at ready counter increased to 110.110 million shares as compared to 85.156 million shares traded on Monday. Market capitalisation declined by Rs 17 billion to Rs 3.221 trillion. Of 400 active scrips, 231 closed in negative and 144 in positive, while the value of 25 scrips remained unchanged.
Fauji Fertiliser Bin Qasim was the volume leader with 9.306 million shares. However, it lost Re 0.17 to close at Rs 37.14. NBP gained Re 0.52 to close at Rs 72.77 with 8.068 million shares. Arif Habib Corp increased by Re 0.70 to close at Rs 25.72 with 7.352 million shares. Fatima Fertiliser Co inched up by Re 0.19 to close at Rs 10.99 with 6.311 million shares.
Jahangir Siddiqui Co lost Re 0.28 to close at Rs 11.06 with 4.398 million shares. Engro Corporation declined by Rs 6.89 to close at Rs 192.67 with 4.301 million shares. Lotte Pakistan PTA decreased by Re 0.33 to close at Rs 13.26 with 4.112 million shares. Nishat Mills increased by Rs 0.66 to close at Rs 63.32 with 3.701 million shares. Fauji Fertiliser Co surged by Rs 1.55 to close at Rs 124.57 with 3.620 million shares. Attock Refinery gained Re 0.62 to close at Rs 122.35 with 3.214 million shares.
Colgate Palmolive and Siemens Pak were the highest gainers increasing by Rs 24.46 and Rs 23.93 to close at Rs 950.00 and Rs 1252.93 respectively, while Rafhan Maize and Nestle Pakistan were the worst losers declining by Rs 52.99 and Rs 15.03 to close at Rs 2074.83 and Rs 2435.00 respectively.
Ahsan Mehanti at Arif Habib Investments said that bearish activity was witnessed at the share market on rising political uncertainty after major political coalition member announced to exit Federal Cabinet. He said that the investors remained concerned over rising fiscal deficit after extension approval of IMF Standby Arrangement for Pakistan economic support and security concerns despite strong valuations on rising global commodity prices ahead of year-end close.