KSE witnesses dull session

Karachi share market witnessed another dull session on Friday due to investors concerns over the country's political situation. KSE-100 index closed at 9,253.92 points, down by 9.47 points. The market started in the negative and the index hit 9,239.75 points intra-day low level.
Trading activity remained dull as the ready market volume declined to 12.243 million shares as compared to 13.840 million shares traded a day earlier. The futures market turnover decreased to 1.140 million shares against 1.292 million shares in the previous session.
The overall market capitalisation declined by Rs 7 billion to Rs 2.886 trillion. Out of the total 166 scrips traded on Friday, 47 closed in the negative and 33 in the positive while the value of 86 scrips remained unchanged. NBP was the overall volume leader of the day with 2.324 million shares.
However, it lost Re. 0.04 to close at Rs 93.02. In the other banking sector stocks, NIB Bank lost Re. 0.09 to close at Rs 8.53 with 1.637 million shares. However, Meezan Bank gained Re. 0.30 to close at Rs 27.50 with 1.221 million shares.
In the Fertiliser sector, Fauji Fertiliser increased by Re. 0.50 to close at Rs 101.50 with 2.019 million shares however, Engro Chemical declined by Re. 1.00 to close at Rs 183.00 with 0.510 million shares. Pakistan International Container Terminal gained Re. 0.30 to close at Rs 62.01 with 0.236 million shares. Eye Television Network increased by Re. 0.24 to close at Rs 39.95 with 0.228 million shares.
Sitara Peroxide lost Re. 0.23 to close at Rs 27.77 with 0.236 million shares. Pak PTA Limited closed at Rs 3.18 without any change with 0.217 million shares. Nishat Mills lost Re. 0.57 to close at Rs 46.71 with 0.182 million shares. Unilever and National Foods were the highest gainers and gained Rs 105.00 and Rs 18.95 to close at Rs 2450.00 and Rs 398.04, respectively while Millat Tractor and Clover Pakistan were the worst losers and lost Rs 5.05 and Rs 3.00 to close at Rs 224.90 and Rs 150.00, respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the selling pressure was witnessed at the local share market as investors remained concerned over Pak-American relations and a series of attacks in Pakistan territory by the allied forces. The prevailing law and order situation in the country, economic instability and foreign selling also affected market sentiment negatively, he added.