The KSE-100 index on Thursday declined by 79.35 points and closed at the level of 11,913.42 points with extremely low volumes. The index witnessed a highly volatile activity throughout the session with oscillating between 12,025.02 points intra-day high and 11,908.06 points intra-day low level.
The investors'' participation remained extremely low, as the volumes at ready counter declined drastically to 28.661 million shares, as compared to 51.340 million shares traded on Wednesday. Total market capitalisation declined by Rs 19 billion to stand at Rs 3.103 trillion. Of the total 316 active scrips, 146 closed in negative and 57 in positive, while the value of 113 stocks remained unchanged.
Fatima Fertiliser Co was the volume leader with 4.735 million shares, however lost Re 0.70 to close at Rs 23.16. In the other fertiliser sector stocks, Fauji Fertiliser Co and Engro Corp declined by Rs 1.85 and Rs 1.10 to close at Rs 181.78 and Rs 132.01 with 1.872 million shares and 1.346 million shares, respectively.
Fresh buying was seen in the E&P sector, as POL increased by Rs 2.35 to close at Rs 363.45 with 1.430 million shares. PTCL inched up by Re 0.01 to close at Rs 10.87 with 1.395 million shares. In the banking sector, Bank Al Habib, NIB Bank and NBP declined by Re 0.09, Re 0.03 and Re 0.32 to close at Rs 29.81, Rs 1.35 and Rs 44.35 with 1.185 million shares, 0.847 million shares and 0.831 million shares, respectively. DG Khan Cement lost Re 0.18 to close at Rs 21.00 with 1.164 million shares. Lotte Pakistan PTA closed at Rs 10.54, down Re 0.12 with 0.780 million shares.
Sanofi-Aventis and Mithchells Fruit were the highest gainers increasing by Rs 4.45 and Rs 3.80 to close at Rs 145.00 and Rs 83.00, respectively while Unilever Pak and Nestle Pakistan were the worst losers declining by Rs 64.40 and Rs 31.11 to close at Rs 5527.60 and Rs 3002.67, respectively. Ahsan Mehanti at Arif Habib Investments said that the bearish activity was witnessed at KSE on global markets fall after Fitch report stated that EU debt crises could spread to US banks.
He said that the trade hit record lows as investors remained cautious ahead of SBP policy announcements this month-end. The rise in brent crude oil prices near to $112 and easing circular debt concerns in energy sector invited interest in blue chip oil stocks despite concerns for rising fiscal deficit in the country, he added.