Despite foreign buying, the KSE-100 index on Tuesday lost 4.44 points and closed at the level of 12,739.22 points due to profit taking by local investors in late hours. The foreign investors however turned net buyers of shares worth $2.23 million. After positive opening the index breached 12,800 psychological level to hit 12,821.22 points intra-day high.
Trading activities also improved as the volumes at ready counter increased to 217.592 million shares as compared to 205.790 million shares traded on Monday. Total market capitalisation reduced by Rs 3 billion to stand at Rs 3.316 trillion. Of the total 347 active stocks, 153 closed in negative and 115 in positive while the value of 79 scrips remained unchanged.
Jahangir Siddiqui Co was the volume leader with 25.680 million shares, however lost Re 0.48 to close at Rs 10.01. Pace (Pak) Limited gained Re 0.60 to close at Rs 2.57 with 20.881 million shares. In the banking sector, NBP and Bank Al Falah increased by Rs 2.48 and Re 0.04 to close at Rs 52.11 and Rs 14.08 with 14.568 million shares and 7.094 million shares respectively while BoP declined by Re 0.80 to close at Rs 7.74 with 11.346 million shares. IGI Inv. Bank inched up by Re 0.16 to close at Rs 1.46 with 6.368 million shares.
DG Khan Cement decreased by Re 0.31 to close at Rs 27.92 with 14.437 million shares while Lucky Cement and Dewan Cement surged by Rs 2.66 and Re 0.26 to close at Rs 97.71 and Rs 2.12 with 9.581 million shares and 6.126 million shares respectively. Azgard Nine declined by Re 0.36 to close at Rs 6.81 with 9.323 million shares.
Indus Dyeing and Pak Int. Con. were the highest gainers increasing by Rs 8.99 and Rs 5.33 to close at Rs 359.09 and Rs 111.99 respectively while Rafhan Maize and Bata (Pak) Limited were the worst losers declining by Rs 50.00 and Rs 32.61 to close at Rs 2700.00 and Rs 679.23 respectively.
Ahsan Mehanti at Arif Habib Corp said that Pakistan stocks closed lower amid consolidation in blue chip stocks after major earning announcements at KSE. He said that the speculations continued in banking and cements stocks on strong earnings outlook. He said that the index closed near session's lows on concerns for falling rupee value. "The concerns for government debt over Rs 130 billion and uncertain global commodities played a catalyst role in bearish sentiments in the post major announcement sessions at KSE", he added.