Mixed trend on stock market

The Karachi share market on Tuesday witnessed a mixed trend, as the KSE-100 index kept oscillating between 11,360.69 points intra-day high and 11,286.81 points low before closing at 11,311.38 points with a 1.03 points gain and extremely low. The turnover at ready counter stood at 19.577 million shares as compared to 17.561 million shares traded on Monday. Market capitalisation was up by Rs 1 billion to Rs 2.934 trillion.
Fatima Fertiliser Co was the volume leader with 3.304 million shares. However, it lost Re 0.16 to close at Rs 22.96. In the other fertiliser sector stocks, Engro Corp and Fauji Fertiliser Bin Qasim declined by Re 0.32 and Re 0.44 to close at Rs 97.97 and Rs 46.30 with 0.901 million shares and 0.884 million shares, respectively, while Fauji Fertiliser Co increased by Rs 1.08 to close at Rs 154.05 with 0.740 million shares.
Arif Habib Corp lost Re 0.27 to close at Rs 26.70 with 1.559 million shares. Pak Reinsurance inched up by Re 0.06 to close at Rs 14.56 with 1.029 million shares. Engro Foods closed at the previous day''s closing level of Rs 23.00 with 1.005 million shares. Jahangir Siddiqui Co lost Re 0.05 to close at Rs 4.07 with 0.937 million shares.
Al Abbas Cement declined by Re 0.22 to close at Rs 2.32 with 0.820 million shares while DG Khan Cement gained Re 0.01 to close at Rs 18.83 with 0.419 million shares.
Nestle Pakistan and Unilever Pak were highest gainers by Rs 148.49 and Rs 146.80 to close at Rs 3118.40 and Rs 5649.62 respectively, while Rafhan Maize and Tri-Pak Films were worst losers by Rs 75.83 and Rs 2.82 to close at Rs 2464.17 and Rs 164.83 respectively.
Ahsan Mehanti at Arif Habib Investments said that positive close was witnessed at KSE amid thin trade. He said that institutional support in select blue chip stocks supported the market for a positive close. Foreign interest remained low after global markets close on account of Christmas holidays.
He said that easing political concerns and expectation for early resolution of CGT issues at KSE played a catalyst role in positive close at KSE despite concerns for energy shortages in the country affecting industrial growth.