Mixed trend on stock market

After witnessing mixed trend, the KSE-100 index on Wednesday closed at 9,784.98 points level with a marginal loss of 2.05 points due to profit taking opted by investors. The market opened on a positive note and the index hit 9,842.72 points intra-day high, up 55.69 points.
However, this momentum could not continue due to profit taking opted by investors after mid-session and the index dropped into negative zone to hit 9,767.57 points intra-day low. Low trading was witnessed and the volume at ready counter declined to 127.835 million shares as compared to 212.720 million shares traded on Tuesday.
Market capitalisation declined by Rs 4 billion to Rs 2.817 trillion. Of 399 active scrips, 189 closed in negative and 183 in positive, while the value of 27 scrips remained unchanged. Lotte Pakistan was the volume leader with 19.328 million shares. However, it lost Re 0.36 to close at Rs 10.93.
D G Khan Cement and Lucky Cement surged by Rs 1.47 and Rs 1.50 to close at Rs 32.55 and Rs 76.57 with 10.373 million shares and 6.363 million shares respectively. NBP and Bank Al Falah increased by Re 0.84 and Re 0.01 to close at Rs 95.31 and Rs 12.51 with 9.157 million shares and 5.709 million shares respectively.
Jahangir Siddiqui Co lost Re 0.27 to close at Rs 23.85 with 6.147 million shares. Azgard Nine gained Re 0.37 to close at Rs 18.97 with 5.719 million shares. PTCL declined by Re 0.08 to close at Rs 20.00 with 4.148 million shares. Hub Power increased by Re 0.57 to close at Rs 35.53 with 3.248 million shares. Adamjee Insurance gained Re 0.45 to close at Rs 127.00 with 2.932 million shares.
Unilever Pakistan and Bata (Pak) were the highest gainers and increased by Rs 141.81 and Rs 15.00 to close at Rs 2978.17 and Rs 740.00 respectively, while Wyeth Pak and Pak Services were the worst losers and declined by Rs 8.00 and Rs 5.90 to close at Rs 951.00 and Rs 112.60 respectively.
Ahsan Mehanti at Shehzad Chamdia said that mixed activity was witnessed at the bourse mainly due to profit taking by institutions in overbought blue chips. The fall in international oil prices, limited foreign interest, delay in appointment of Finance Minister and non-availability of leverage product played a catalyst role in negative activity at the local bourse.