The benchmark KSE-100 index on Monday lost 126.07 points to close at 9,642.56 points level mainly due to Rawalpindi incident and profit taking opted by the local investors. The market witnessed mixed activity throughout the day with the index oscillating between positive and negative zones, however in the evening market closed in negative zone.
During the session the index hit 9,785.94 points intra-day high and 9,600.01 points intra-day low level. Trading activity also shrank and the volumes at ready counter declined to 156.716 million shares as compared to 239.669 million shares traded in the last session.
The overall market capitalisation declined by Rs 35 billion to Rs 2.8 trillion, which previously stood at Rs 2.835 trillion. Out of the total 444 active scrips, 137 closed in positive and 288 in negative, while the value of 19 scrips remained unchanged.
Jahangir Siddiqui Co was the volume leader with 28.87 million shares as it closed at Rs 39.10 with Rs 0.75 gain. Arif Habib Sec. gained Rs 2.18 to close at Rs 45.86 with 15.83 million shares. Bank Alfalah lost Rs 0.42 to close at Rs 13.98 with 8.24 million shares.
Share price of Nishat Mills Limited declined by Rs 1.85 to close at Rs 60.54 with trading of 7.97 million shares, PTCLA lost Rs 0.25 to Rs 20.11 with a trading of 4.9 million shares, NBP with 4.2 million shares trading volume decreased by Rs 1.99 to close at Rs 85.64 and Azgard Nine Ltd gained Rs 0.40 to close at Rs 26.99 with 3.9 million shares.
Share price of Lucky Cement declined by Rs 2.1 to close at Rs 83.06 with 3.6 million shares. PSO gained Rs 4.47 to close at Rs 334.81 with 3.2 million shares and D.G. Khan decreased by Rs 0.51 to close at Rs 34.81 with 3.07 million shares.
Siemens Pak Eng. and Wyeth Pak Ltd were the highest gainers with Rs 43.71 and Rs 29 to close at Rs 1399.96 and Rs 1350 respectively, while Nestle Pak and Bata Pak were the worst losers with Rs 51 and Rs 45 to close at Rs 1200 and Rs 875, respectively.
Analysts said there are several reasons behind the negative trend in the market, but the market is likely to improve today. They said the market has come on the expansive level, as some 94 percent has been added to the index since January. Therefore, some selling pressure was witnessed in the share market on Monday. Analysts said the introduction of new client net margin system is also a reason for the negative trend in Karachi bourse, as investors are hesitating to invest at current levels.
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