Karachi shares market on third consecutive days witnessed bearish trend and on Thursday KSE-100 index lost 165.74 points. The benchmark KSE-100 closed at 12,411.87 points from 12,577.61 points. During the session the index hit 12,616.10 points intra-day high and 12,387.60 points intra-day low level.
Trading activities were also decreased because of negative trend in the market and volumes at ready counter decline to 183.611 million shares, as compared to 188.009 million shares traded in the last session. However, trading on futures counter posted some increase and overall 45 million shares were traded in the future market against 35 million shares previously.
The overall market capitalisation decrease by Rs 43.69 billion to Rs 3.358 trillion previously was stood at Rs 3.401 trillion. Trading took place in 369 scrips, out of which 104 scrips closed in the positive, 272 in the negative position and the value of 20 shares were remained unchanged.
Lotte Pakistan was the volume leader of the day with 49.74 million shares and lost Re 0.94 to close at Rs 15.25. Share price of Bank of Punjab increased by Re 0.04 to close at Rs 9.33 with trading volume of 12.289 million shares. Fauji Fertiliser Bin Qasim lost Re 0.17 to close at Rs 41.97 with 11.97 million shares. Share price of Azgard Nine also decrease by Re 0.30 to close at Rs 10.87 with a trading volume of 7.489 million shares. With 6.83 million shares trading, Nishat Mills Ltd lost Rs 2.82 to close at Rs 68.41.
In addition, share price of Lafarge Pakistan posted a decline of Re. 0.09 to close at Rs 3.51 with 6.61 million shares. While, Arif Habib Corp closed at Rs 27.01, down by Rs 1.31 with 5.2 million shares.
Share price of Jah. Sid. Co lost Rs 0.20 to close at Rs 11.40 with 5.1 million shares. Share price of Fauji Fertiliser Com. decrease by Rs 1.54 to close at Rs 148.57 with 4.66 million shares trading and with volume of 4.26 million share trading, the share price of D. G Khan cement closed at Rs 29.60, down by Rs 1.60.
Wyeth Pak Ltd and Rafhan Maiz Products were the highest gainers and gain Rs 45.75 and Rs 35.38 to close at Rs 1,030.00 and Rs 2,217.98, respectively. While, Unilever Food Ltd and Millat Tractor were the worst losers and lost Rs 45.00 and Rs 15.46 to close at Rs 1,115.00 and Rs 528.23, respectively.
Ahsan Mehanti Director Arif Habib Investments Limited said that on Thursday investors booked profits in scrips across the board, as regional capital markets fall. "Limited foreign interest, concerns for rising fiscal deficit affected the investor sentiment despite value buying of selected scrips on expectation of strong earnings announcements, he added.