KARACHI: The Karachi share market on Tuesday witnessed profit taking in late hours that eroded intra-day gains and the benchmark KSE-100 index finally closed at 14,672.24 points, with a modest loss of 1.53 points.
The market opened on strong positive note and the index hit 14,751.91 points intra-day high level. However, the investors opted for profit taking in late hours and the index dropped into negative zone at 14,652.85 points intra-day low level.
Trading activities remained extremely low as the volumes at ready counter declined to 44.962 million shares as compared to 58.117 million shares traded on Monday. Total market capitalization reduced by Rs 2 billion to stand at Rs 3.747 trillion. Of the total 291 active stocks, 155 closed in negative and 105 in positive while the value of 31 stocks remained unchanged.
Jahangir Siddiqui Co was the volume leader with 2.743 million shares however lost Re 0.26 to close at Rs 14.45.
In the fertilizer sector, Engro Corporation increased by Rs 1.11 to close at Rs 89.82 with 2.557 million shares while Fauji Fertilizer Co declined by Re 0.49 to close at Rs 113.34 with 1.590 million shares. Quice Food gained Re 0.99 to close at Rs 12.23 with 2.363 million shares. NBP decreased by Re 0.48 to close at Rs 43.88 with 1.848 million shares.
In the cement sector, Maple Leaf Cement and DG Khan Cement increased by Re 0.19 and Re 0.14 to close at Rs 6.86 and Rs 46.32 with 1.723 million shares and 1.551 million shares respectively. KESC inched up by Re 0.10 to close at Rs 3.68 with 1.252 million shares. Quice Food (R) gained Re 1.00 to close at Rs 2.24 with 1.250 million shares. PTCL lost Re 0.21 to close at Rs 13.79 with 1.247 million shares.
Millat Tractors and Atlas Battery were the top gainers increasing by Rs 22.83 and Rs 12.49 to close at Rs 551.63 and Rs 262.35 respectively while Shezan International and Fazal Textile were the top losers declining by Rs 13.00 and Rs 9.86 to close at Rs 256.00 and Rs 187.51 respectively.
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