Index declines by 81.47 points

The KSE-100 index on Monday declined by 81.47 points to close at 10,056.46 points level due to investors' concerns over delay in IMF tranche and difference between major political parties on constitutional reforms. The market opened on a positive note and the index hit 10,173.30 points intra-day high, up 35.37 points. However, this momentum could not continue as the investors opted for profit taking.
Trading remained low and the volume at ready counter declined to 148.585 million shares as compared to 211.332 million shares traded on Friday. Market capitalisation declined by Rs 21 billion to Rs 2.858 trillion. Of 413 active scrips, 235 closed in negative and 155 in positive, while the value of 23 scrips remained unchanged.
Maple Leaf was the volume leader with 14.311 million shares. However, it lost Re 0.26 to close at Rs 4.74. DG Khan Cement declined by Re 0.74 to close at Rs 31.64 with 11.490 million shares, while Al Abbas Cement increased by Re 0.16 to close at Rs 9.63 with 4.498 million shares. Lotte Pakistan decreased by Re 0.21 to close at Rs 11.10 with 13.207 million shares. Pace (Pak) gained Re 0.20 to close at Rs 5.78 with 9.570 million shares.
Jahangir Siddiqui Co lost Re 0.40 to close at Rs 22.59 with 7.379 million shares. Azgard Nine declined by Re 0.96 to close at Rs 14.72 with 7.245 million shares. Fauji Fertiliser Bin Qasim gained Re 0.17 to close at Rs 32.39 with 6.784 million shares while Engro lost Re 0.51 to close at Rs 192.23 with 4.173 million shares. Lafarge Pakistan decreased by Re 0.46 to close at Rs 4.80 with 5.088 million shares.
Unilever Pakistan and Bata Pak were the highest gainers and increased by Rs 158.81 and Rs 19.00 to close at Rs 3335.06 and Rs 709.00 respectively, while Unilever Food and Wyeth Pak were the worst losers and declined by Rs 39.95 and Rs 31.11 to close at Rs 1060.00 and Rs 1090.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that intense selling was witnessed on status quo maintained by SBP with no change in the discount rate in the monetary policy announcement. He said that the expected delay in the disbursement of $1.2 billion tranche of IMF for Pakistan economic support, fall in international crude oil prices near to $79.05, limited foreign interest and investor concerns over rising fiscal deficit and unsettled circular debt issue in the Pakistan energy sector played a catalyst role in the negative activity at KSE.