Uncertainty over expected increase in discount rates by the State Bank kept the market participants totally at sidelines and the benchmark KSE-100 index stayed frozen at 9,183.14 points level on Wednesday. The trading volume increased slightly, however it remained at the lower side at only 73,500 shares, against lowest ever level of 24,500 shares recorded on Tuesday.
The overall market capitalisation declined by Rs 94 million to stand at Rs 2,829.682 billion. Out of the total 14 active scrips, only one is closed in positive and four in negative while the value of nine scrips remained unchanged. National Assets was the overall volume leader of the day with 23,500 shares, however, it remained unchanged at Re 0.40.
Tandlianwala Sugar lost Rs 0.09 to close at Rs 6.43 with 15,000 shares. Nimir Resins closed at Rs 5.05 without any change with 10,000 shares. Sitara Energy declined by Re 0.24 to close at Rs 20.36 with 6,500 shares. Sally Textile lost Re 0.80 to close at Rs 1.50 with 5,000 shares. Gharibwal Cement closed at Rs 17.37, down by Re 0.08 with 5,000 shares. Libaas Textile remained unchanged at Rs 1.75 with 3,000 shares. Kot Addu closed at Rs 37.80 without any change with 1,000 shares.
First Fid Leasing remained unchanged at Rs 3.30 with 1,000 shares. Tri-Star Power closed at Rs 1.64 without any change with 1,000 shares. Haydery Const was the highest gainer and gained Re 0.02 to close at Rs 1.05 while Sally Textile was the worst loser and lost Re 0.80 to close at Rs 1.50.
Hasnain Asghar Ali at Aziz Fidahusein Securities said that the local capital market stayed frozen with all eyes on the 'special session' and then on the regular opening, ie, when the date of floor removal is announced. Various rumours were however circulating that there might be a change in circuit breaker mechanics, mainly on the lower lock.
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