The new week started with dull trading on Karachi Stock Exchange on Monday as the investors were not prepared to take fresh position before removing the 'floor', as a result of which the KSE-100 index closed up only by 0.51 points, at 9,184.75 points level.
Trading volume at ready market declined to new low level of 177,220 shares as against 193,300 shares traded on last Friday, while no trading activity was seen at the futures market counter. Market capitalisation declined by Rs 2 billion to Rs 2.838 trillion.
Out of total 36 active scrips, eight closed in positive and six in negative, while the value of 22 scrips remained unchanged. Southern Electric was the market leader with 30,000 shares, and gained Re. 0.20 to close at Rs 3.80. Mirza Sugar Mills closed at Rs 1.80, without any change, with 21,500 shares. Wah-Noble increased by Rs 2.40 to close at Rs 54.40 with 16,000 shares.
National Assets lost Re. 0.02 to close at Re. 0.41 with 16,000 shares. KESC closed at Rs 3.80 without any change with 12,000 shares. Pak Com. Leasing increased by Re. 0.13 to close at Re. 0.70 with 11,000 shares. First Fid Leasing lost Re 0.10 to close at Rs 4.10 with 11,000 shares. Al-Zamin closed at Rs 2.01, up by Re. 0.01 with 10,000 shares. Haydery Const closed at Rs 1.03 without any change with 10,000 shares. Sui Southern Gas closed unchanged at Rs 27.91 with 5,000 shares.
Pak Services and Wah-Noble were the highest gainers and gained Rs 4.25 and Rs 2.40 to close at Rs 512.00 and Rs 54.40 respectively while Kohinoor Mills and First Fid. Leasing were the worst losers and lost Rs 1.04 and Re. 0.10 to close at Rs 19.86 and Rs 4.10 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that dull activity continued as the market participants were not ready to take fresh positions. The investors were concerned over rising current account deficit, falling rupee value, law and order situation in the country and depleting foreign exchange reserves affected the market sentiment negatively.
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