KSE index loses 16.31 points

The Karachi share market on Thursday witnessed mixed trend with the KSE-100 index oscillating between 13,641.89 points intra-day high and 13,468.25 points intra-day low levels. The index finally closed at the level of 13,559.10 points, down 16.31 points.
Trading activities also shrank as the volumes at ready counter declined to 344.578 million shares as compared to 450.238 million shares traded on Wednesday. Total market capitalisation reduced by Rs 7 billion to stand at Rs 3.477 trillion. Of the total 427 active scrips, 198 closed in negative and 123 in positive while the value of 106 stocks remained unchanged.
Lafarge Pakistan was the volume leader with 50.196 million shares and gained Re 0.42 to close at Rs 4.38. In the other cement sector stocks, DG Khan Cement inched up by Re 0.05 to close at Rs 34.64 with 11.466 million shares. Jahangir Siddiqui Co declined by Rs 1.04 to close at Rs 21.35 with 25.417 million shares. Pace (Pak) Limited closed at Rs 3.13, up Re 0.23 with 23.680 million shares.
In the banking sector, BoP lost Re 0.32 to close at Rs 10.15 with 20.482 million shares while NBP, Bankislami, JS Bank and Askari Bank increased by Rs 2.15, Re 1.00, Re 0.15 and Re 0.32 to close at Rs 45.21, Rs 8.06, Rs 6.58 and Rs 14.01 with 16.683 million shares, 16.620 million shares, 10.646 million shares and 9.709 million shares respectively. Azgard Nine decreased by Re 0.89 to close at Rs 8.43 with 13.687 million shares.
Sapphire Fiber and Gatron Industries were the highest gainers increasing by Rs 5.53 and Rs 3.82 to close at Rs 116.30 and Rs 80.32 respectively while Unilever Pak and Bata (Pak) Limited were the worst losers declining by Rs 109.84 and Rs 28.10 to close at Rs 5588.54 and Rs 573.90 respectively.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower at KSE after SECP chair confirms delay in revised CGT regime on legal issues. The fall in stocks and commodities on growth worries across the globe and limited foreign interest played a catalyst role in bearish sentiment at KSE. He said that the institutional interest remained in blue chip banks, fertiliser and energy stocks ahead of the quarter end supported the market despite concerns for law and order during strike call in the city.