Profit taking in late hours minimised the day's early gains at Karachi stock market on Wednesday and the KSE-100 index closed at 8,058.46 points with a gain of mere 13.96 points. The market opened on a positive note and the index hit 8,134.58 points intra-day high, up 90.08 points. Trading improved and the volume at ready counter increased to 218.108 million shares as compared to 200.809 million shares of Tuesday.
Market capitalisation slightly increased by four billion rupees to Rs 2.374 trillion. Of 408 active scrips, 195 closed in negative and 181 in positive while the value of 32 scrips remained unchanged. TRG Pakistan was the volume leader with 30.522 million shares and gained Re. 0.35 to close at Rs 2.05. DG Khan Cement lost Rs 2.06 to close at Rs 39.15 with 20.392 million shares. Jahangir Siddiqui Co declined by Re. 0.12 to close at Rs 25.34 with 16.495 million shares.
Azgard Nine increased by Re. 0.90 to close at Rs 26.94 with 15.432 million shares. Arif Habib Sec declined by Re. 0.48 to close at Rs 32.94 with 13.218 million shares. JS Growth lost Re. 0.09 to close at Rs 3.81 with 10.386 million shares.
NBP surged by Rs 2.13 to close at Rs 67.26 with 8.539 million shares. Nishat Mills gained Re. 0.06 to close at Rs 44.36 with 8.220 million shares. PPL increased by Rs 2.54 to close at Rs 194.31 with 7.361 million shares. Hub Power gained Re. 0.48 to close at Rs 30.95 with 6.766 million shares.
Nestle Pakistan and Treet Corporation were the highest gainers and gained Rs 49.89 and Rs 25.67 to close at Rs 1100.00 and Rs 557.00 respectively, while Unilever Pakistan and Fazal Textile were the worst losers and lost Rs 36.00 and Rs 10.75 to close at Rs 2071.00 and Rs 354.25 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that mixed activity was witnessed at the local shares market as investors preferred booking profit ahead of monetary policy announcement on August 15 and results of T-bill auction by SBP on August 12.
The correction in international oil prices, fall in local cement prices and decline in oil refineries sales by over 14 percent on year-on-year basis remained major concern for investors. The limited interest of state run funds provided support to the market throughout the session, he added.
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