Index sheds 5.8 points

The Karachi share market witnessed another dull session on Thursday due to investors' lack of interest ahead of announcement of monitory policy. The benchmark KSE-100 index after moving both sides finally closed at 11,878.81 points, down 5.80 points. Trading activities remained low, as the volumes at ready counter stood at 40.083 million shares.
Total market capitalisation reduced by on billion rupees to stand at Rs 3.154 trillion. Out of the total 367 active scrips, 131 closed in negative and 120 in positive while the value of 116 stocks remained unchanged. SilkBank was the volume leader with 7.367 million shares and gained Re 0.05 to close at Rs 2.95. Jahangir Siddiqui Co lost Re 0.21 to close at Rs 6.94 with 3.976 million shares. Lotte Pakistan PTA decreased by Re 0.10 to close at Rs 14.73 with 2.535 million shares. Pervez Ahmed inched up by Re 0.12 to close at Rs 1.68 with 1.830 million shares.
Azgard Nine lost Re 0.10 to close at Rs 5.56 with 1.618 million shares. Sitara Peroxide gained Re 0.23 to close at Rs 17.71 with 1.562 million shares. Fauji Fertiliser Co (FFC) lost Re 0.24 to close at Rs 142.73 with 1.412 million shares. Pak Reinsurance increased by Re 1.00 to close at Rs 16.24 with 1.352 million shares. NIB Bank decreased by Re 0.06 to close at Rs 1.55 with 1.281 million shares. Engro Corp declined by Rs 1.48 to close at Rs 190.83 with 1.119 million shares.
Siemens Pak and Nestle Pakistan were the highest gainers increasing by Rs 48.76 and Rs 39.22 to close at Rs 1024.06 and Rs 3540.88, respectively, while Rafhan Maize and Colgate Palmolive were the worst losers declining by Rs 127.81 and Rs 15.00 to close at Rs 2577.64 and Rs 725.00, respectively.
Ahsan Mehanti at Arif Habib Investments said that the bearish activity was witnessed with extreme low volumes on limited institutional and foreign interest, as uncertainty loomed over federal budget implications on Pakistan corporate sector. The commodity stocks remained in limelight despite uncertainty over disbursement of IMF tranche of $1.7 billion. The concerns for rising fiscal deficit and uncertainty over SBP policy announcement this week affected the sentiment at KSE despite recovery in US brent crude oil prices staying over $115, he added.