Index loses 63.85 points

Bearish trend continued at Karachi share market on Wednesday and the KSE-100 index lost 63.85 points to close at 9,251.84 points, mainly due to prevailing law and order situation in the country. The market opened on a positive note and the index hit 9,364.86 points intra-day high, up 49.17 points.
However, the momentum could not continue due to investors' cautious stance over the prevailing law and order situation in the country. The Peshawar bomb blast further deepened investors' concern and they opted to offload their holdings.
Although trading volumes at ready counter improved slightly it remained at the lower side at 171.396 million shares as compared to 166.340 million shares traded on Tuesday. Market capitalisation also declined, by Rs 16 billion, to Rs 2.680 trillion. Of 441 active scrips, 224 closed in negative and 198 in positive while the value of 19 scrips remained unchanged.
Arif Habib Sec was the volume leader with 18.281 million shares and gained Re. 0.88 to close at Rs 54.80. Pak PTA increased by Re. 0.35 to close at Rs 6.68 with 17.019 million shares. Jahangir Siddiqui Co declined by Re. 0.79 to close at Rs 35.02 with 9.788 million shares.
D G Khan Cement gained Rs 1.46 to close at Rs 30.73 with 14.618 million shares, while Lucky Cement lost Rs 2.48 to close at Rs 65.84 with 7.891 million shares. Adamjee Insurance surged by Rs 5.77 to close at Rs 121.33 with 9.079 million shares. Southern Electric gained Re. 0.43 to close at Rs 4.36 with 6.818 million shares. Pace (Pak) increased by Re 0.31 to close at Rs 6.82 with 6.138 million shares.
Bosicor Pakistan increased by Re. 1.00 to close at Rs 7.95 with 5.373 million shares. Engro Chemical Pak gained Rs 2.11 to close at Rs 167.15 with 5.265 million shares. Rafhan Maize and Dreamworld were the highest gainers and increased by Rs 40.00 and Rs 27.42 to close at Rs 1650.00 and Rs 594.00 respectively, while Unilever Food and Nestle Pakistan were the worst losers and declined by Rs 61.49 and Rs 55.06 to close at Rs 1168.51 and Rs 1189.94 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that selling activity was witnessed as security situation deteriorated in the country after blast in Peshawar. Investors remained concerned over law and order situation despite strong result announcements. High leverage costs, fall in global equity markets, limited foreign interest and rising global economic uncertainties played a catalyst role in negative activity at KSE.