Index down 42.93 points

The Karachi share market witnessed mixed trend on Wednesday with the KSE-100 index oscillating between 12,611.67 points intra-day high and 12,520.67 points low levels. The index closed at 12,533.55 points, with a net loss of 42.93 points.
Trading also remained low and the volume at ready counter declined to 68.500 million shares as compared to 71.547 million shares traded on Tuesday. Market capitalisation declined by Rs 11 billion to Rs 3.297 trillion. Of 350 active scrips, 119 closed in positive and 105 in negative, while the values of 126 stocks remained unchanged.
Lotte Pakistan PTA was the volume leader with 11.548 million shares and gained Re 0.65 to close at Rs 13.58. Dewan Salman inched up by Re 0.15 to close at Rs 2.76 with 6.102 million shares. NBP increased by Re 0.18 to close at Rs 54.18 with 5.299 million shares, while Bank Al Falah lost Re 0.01 to close at Rs 10.00 with 3.654 million shares. Nimir Ind Chemicals gained Re 0.09 to close at Rs 3.07 with 4.644 million shares. Jahangir Siddiqui Co inched up by Re 0.14 to close at Rs 7.03 with 3.232 million shares.
Engro Corp surged by Rs 1.83 to close at Rs 162.02 with 3.067 million shares. Azgard Nine closed at Rs 5.92 without any change with 2.782 million shares. Fauji Fertiliser Bin Qasim gained Re 0.21 to close at Rs 43.18 with 2.748 million shares. DG Khan Cement increased by Re 0.26 to close at Rs 24.01 with 2.405 million shares.
Rafhan Maize and Bata Pak were the highest gainers, increasing by Rs 110.37 and Rs 15.42 to close at Rs 2664.54 and Rs 657.42 respectively, while Nestle Pakistan and Indus Dyeing were the worst losers declining by Rs 253.91 and Rs 17.49 to close at Rs 4843.91 and Rs 335.71 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that the gains led by fertiliser and chemical stocks although stayed firm on gaining grounds, low volume decline in Nestle kept KSE-100 index in negative zone. While KSE-30 index moved in an extreme direction, it continued to reflect the activity in the frontline stocks, wherein gainers outperformed the losers, with least reflection of illiquid stocks poised towards positive zone, despite sell-off in various high priced stocks.
He said that various stocks from chemical and fertilizer sectors duly followed the bull-run initiated by Fauji group stocks. However, the fertilizer stocks, under threat from various fronts, failed to invited follow-up support and wider interest. Group support, however, allowed the stocks to join the gaining spree. Presence of sellers on strength restricted the upside in various gainers from previous session, mainly from E&P, Cement and Banking sectors. Range-bound activity did restrict activity by resident participants. Opportunities of sector and stocks swapping, provided due to gaining spree in various main board stocks, was well capitalised by corporate participants, he added.