Trading activity at the local share market remained dull due to prevailing uncertainty over the floor issue, which kept the investors on the sidelines and the benchmark KSE-100 index ended unchanged at 9,183.14 points. The investors' lack of interest was evident as the ready market volume declined to 236,700 shares as compared to 622,200 shares traded a day earlier while no trading was witnessed at the futures counter.
The overall market capitalisation declined by Rs 91 million to Rs 2,829.614 billion. Trading took place in only 23 scrips, of which four closed in positive, eight in negative while the value of 11 scrips remained unchanged. Al-Zamin Leasing was the overall market volume leader of the day with 115,500 shares, however, it declined by Re. 0.05 to close at Rs 1.95. National Assets closed at Re. 0.41, up by Re. 0.01 with 39,000 shares.
Sitara Energy lost Re. 0.29 to close at Rs 20.76 with 21,500 shares. U.D.L. Modaraba closed at Rs 3.30, down by Re. 0.01 with 10,500 shares. Nimir Resins closed at Rs 5.05 without any change with 10,000 shares. Mukhtar Textile remained unchanged at Re. 0.53 with 10,000 shares.
Gharibwal Cement lost Re. 0.51 to close at Rs 17.08 with 6,000 shares. KESC remained unchanged at Rs 3.80 with 5,000 shares. Mohammad Farooq lost Re. 0.23 to close at Rs 2.01 with 3,500 shares. Dewan Auto Engg remained unchanged at Rs 1.45 with 3,500 shares.
AzgN and Tri-Star Power were the highest gainers and gained Re. 1.00 and Re. 0.21 to close at Rs 9.75 and Rs 1.85 respectively while Pak Datacom and Gharibwal Cement were the worst losers and lost Re 1.00 and Re. 0.51 to close at Rs 49.00 and Rs 17.08 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that trading activity remained low on prevailing negative sentiment following SBP's announcement to raise yields on T-Bills auctions, indicating possible discount rate hike. Members default expectations, falling foreign exchange reserves, no announcement of Saudi oil facility on deferred payments, foreign selling in the market were major concerns, which kept the market participants on the sidelines, he added.
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