The KSE-100 index on Wednesday lost 77.67 points and closed at 9,735.38 points, mainly due to selling by local investors. The market opened on a negative note and the index hit 9,683.91 points intra-day low level, down 129.14 points. Trading also shrank and the volume at ready counter declined to 52.248 million shares as compared to 81.645 million shares traded on Tuesday.
Market capitalisation declined by Rs 21 billion to Rs 2.720 trillion. Of 334 active scrips, 180 closed in negative and 129 in positive, while the value of 25 scrips remained unchanged. PTCL was the volume leader with 7.368 million shares. However, it lost Re 0.61 to close at Rs 18.07.
D G Khan Cement and Lucky Cement increased by Rs 1.02 and Re 0.45 to close at Rs 25.40 and Rs 68.97 with 5.569 million shares and 2.274 million shares respectively. Lotte Pakistan PTA declined by Re 0.16 to close at Rs 8.22 with 3.260 million shares. NBP lost Re 0.28 to close at Rs 63.65 with 2.197 million shares while MCB gained Rs 1.10 to close at Rs 190.46 with 1.513 million shares. Jahangir Siddiqui Co declined by Re 0.38 to close at Rs 9.98 with 2.127 million shares. Arif Habib Sec decreased by Re 0.85 to close at Rs 22.52 with 2.053 million shares. Nishat Mills increased by Re 0.53 to close at Rs 43.74 with 1.894 million shares. WorldCall Telecom lost Re 0.04 to close at Rs 2.55 with 1.614 million shares.
Unilever Pakistan and Siemens Pak were the highest gainers increasing 54.29 and Rs 52.59 to close at Rs 3984.33 and Rs 1163.31 respectively, while Rafhan Maize and Nestle Pak were the worst losers declining 56.43 and Rs 40.79 to close at Rs 1250.00 and Rs 1758.78 respectively.
Khurram Schehzad, head of research at Invest Capital and Securities, said that the market witnessed a loss of 77 points due to investors' concerns over differences between the chairman and KSE board of directors regarding introduction of leverage product at the capital market. He said that selling was seen mainly by the local investors. However, foreign investors' interest continued with a fresh inflow of $0.9 million.
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