Karachi share market on Tuesdya witnessed a dull session amidst thin volumes and the KSE-100 index shed 35.93 points to close at 14,508.29 points' level. The KSE-30 index declined by 109.18 points to close at 17,303.06 points' level.
The market tarted on a positive note and the index hit 14,579.02 points intra-day high level. But when the market participants opted for profit taking before long holidays of Eid-ul-Azha, the index dropped into negative zone till the end of the session.
Trading activity remained dull as the ready market volume declined to 167.129 million shares as compared to 179.948 million shares traded a day earlier. The futures market turnover decreased to 20.090 million shares against 24.158 million shares on Monday.
The overall market capitalisation declined by Rs 16 billion to Rs 4.465 trillion. Trading took place in 382 scrips, out of which 183 closed in negative and 161 in positive, while the value of 38 scrips remained unchanged.
Bosicor Pakistan was the star performer of the day with 17.103 million shares and surged by rupee one to close at Rs 21.70, followed by JS Bank, which gained rupee one to close at Rs 21 with a total volume of 15.984 million shares. Bank Al Falah, Askari Bank and NIB Bank 0.85, Rs 0.75 and Rs 0.15 to close at Rs 55.20, Rs 102.50 and Rs 22.40 respectively.
Dost Steel Limited increased by Rs 1.40 to close at Rs 29.75. Pakistan Cement gained Rs 0.20 to close at Rs 12.45. While Arif Habib Sec lost Rs 1.40 to close at Rs 178.80, JOV & Co declined by Rs 0.95 to close at Rs 170.45 and Netsol Technologies closed at Rs 138.10, down by Rs 3.45.
Jahangir Siddiqui Co and Pak Reinsurance were the highest gainers, with Rs 44.80 and Rs 21 gains to close at Rs 941.30 and Rs 441.05 respectively, while Pak Engineering and Treet Corporation were the highest losers. They lost Rs 14.75 and Rs 12 to close at Rs 285.25 and Rs 300 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the yearend fund requirements deterred banks, financial institutions to take fresh positions. However, selling pressure was witnessed as the CFS counts to two days on ready purchases and lack of foreign investors' interest ahead of Christmas holidays, he added. Declining oil prices in the international market was another reason, which invited selling in the relevant stocks.
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