Index loses 74.18 points

After witnessing a bull run during last three consecutive sessions, the investors opted for profit taking on Thursday and the KSE-100 index lost 74.18 points to close at 11,962.18 points. Trading activities also remained low, as the volumes at ready counter declined to 64.353 million shares, as compared to 84.426 million shares traded on Wednesday.
Total market capitalisation declined by Rs 19 billion to stand at Rs 3.176 trillion. Out of the total 365 active scrips, 156 closed in negative and 94 in positive, while the value of 115 stocks remained unchanged. Jahangir Siddiqui Co was the volume leader with 9.439 million shares and gained Re 0.69 to close at Rs 6.87. Azgard Nine increased by Re 0.51 to close at Rs 5.82 with 8.722 million shares.
In the banking sector, Bank Al Falah and NIB Bank inched up by Re 0.09 and Re 0.01 to close at Rs 10.77 and Rs 1.82 with 6.716 million shares and 1.586 million shares, respectively. DG Khan (R) gained Re 0.17 to close at Rs 2.39 with 4.788 million shares. Lotte Pakistan PTA lost Re 0.06 to close at Rs 15.56 with 3.388 million shares.
DG Khan Cement decreased by Re 0.09 to close at Rs 22.75 with 3.061 million shares, while Fauji Cement gained Re 0.18 to close at Rs 4.23 with 1.527 million shares. Fauji Fertiliser Bin Qasim declined by Re 0.33 to close at Rs 41.74 with 2.188 million shares. WorldCall Telecom lost Re 0.09 to close at Rs 2.00 with 1.222 million shares.
Bata (Pak) and Fazal Textile were the highest gainers increasing by Rs 11.80 and Rs 11.05 to close at Rs 437.46 and Rs 300.00, respectively while Nestle Pakistan and Unilever Pak were the worst losers declining by Rs 73.92 and Rs 8.21 to close at Rs 3525.56 and Rs 5177.18, respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that following the trend in the international and regional equities and commodities markets, the local bourse after initial gains under went a massive sell-off, led by the high priced and expensive stocks, threatened by the upcoming federal budget and the last monetary policy of the running fiscal, likely to be unveiled in last week of the month.
He said that the polluted economic and financial horizon and highly volatile geo political scenario kept even the resident participants from making fresh bets in high priced stocks, thereby keeping low volume price erosion a constant feature of the trading session.