Index sheds 29.55 points

Profit taking after mid-session on Wednesday forced the KSE-100 index into negative territory to close at 9,302.92 points level with a loss of 29.55 points. The market opened on a positive note and the index hit 9,384.13 points intra-day high level, up 51.66 points.
However, this momentum could not continue as the investors opted to offload their holdings on available margins ahead of a long weekend, analysts said. They said that the investors avoided taking fresh positions due to prevailing uncertainty on political front over NRO issue.
Trading also shrank and the volume at ready counter declined to 116.947 million shares as compared to 136.939 million shares traded on Tuesday. Market capitalisation declined by Rs 7 billion to Rs 2.681 trillion. Of 398 active scrips, 204 closed in negative and 168 in positive while the value of 26 scrips remained unchanged.
Arif Habib Sec was the volume leader with 12.885 million shares and gained Re. 0.33 to close at Rs 49.09. Jahangir Siddiqui Co increased by Re. 0.06 to close at Rs 30.67 with 7.679 million shares. Nishat (Chunian) surged by Re. 0.87 to close at Rs 19.53 with 12.518 million shares. PTCL inched up by Re. 0.53 to close at Rs 17.53 with 10.434 million shares.
Fauji Fertiliser Bin Qasim gained Re. 0.64 to close at Rs 25.38 with 6.555 million shares. DG Khan Cement and Kohat Cement increased by Re. 0.45 and Re. 0.46 to close at Rs 29.35 and Rs 6.86 with 4.772 million shares and 3.387 million shares respectively. OGDC declined by Rs 1.01 to close at Rs 108.03 with 4.292 million shares. Bank Al Falah lost Re. 0.11 to close at Rs 14.17 with 3.573 million shares.
Adamjee Insurance decreased by Rs 3.32 to close at Rs 123.23 with 3.423 million shares. Bata (Pak) and Rafhan Maize were the highest gainers and increased by Rs 39.54 and Rs 26.00 to close at Rs 928.54 and Rs 1452.00 respectively, while Wyeth Pak and Siemens were the worst losers and declined by Rs 30.00 and Rs 24.46 to close at Rs 1225.00 and Rs 1254.04 respectively.
Hamad Aslam, Head of Research at BMA Capital Management, said that low trading was witnessed at the local bourses and volume remained thin at ready counter due to investors'' lack of interest. The positive opening could not continue due to profit taking opted by the investors after mid-session before a long weekend.