Index sheds five points

The KSE-100 index on Friday lost 5.01 points and closed at 11,301.09 points due to profit taking opted by investors in late hours. The market witnessed positive trend during early hours and the index hit 11,384.71 points intra-day high.
However, profit taking forced the index into negative zone at 11,273.63 points intra-day low level. Trading remained very low and the volume at ready counter declined to 30.624 million shares as compared to 33.212 million shares traded on Thursday.
Market capitalisation declined by Rs 2 billion to Rs 2.930 trillion. Of 299 active scrips, 113 closed in negative and 94 in positive, while the values of 92 stocks remained unchanged. Fatima Fertiliser was volume leader with 4.793 million shares. However, it lost Re 0.01 to close at Rs 23.16. In other fertiliser sector stocks, Engro Corp, Fauji Fertiliser Bin Qasim and Fauji Fertiliser Co declined by Re 0.13, Re 0.61 and Re 0.53 to close at Rs 98.41, Rs 46.98 and Rs 153.82 with 2.045 million shares, 1.480 million shares and 0.972 million shares respectively. Jahangir Siddiqui Co decreased by Re 0.11 to close at Rs 4.08 with 2.573 million shares.
In the banking sector, NIB Bank and NBP gained Re 0.19 and Re 0.03 to close at Rs 1.49 and Rs 41.22 with 1.983 million shares and 1.946 million shares respectively, while SilkBank lost Re 0.06 to close at Rs 1.48 with 1.916 million shares. PTCL declined by Re 0.30 to close at Rs 9.88 with 1.071 million shares. Nishat (Chunian) increased by Re 0.30 to close at Rs 18.50 with 0.889 million shares.
Nestle Pakistan and Siemens Pak were highest gainers by Rs 134.82 and Rs 40.29 to close at Rs 2831.25 and Rs 888.89 respectively, while Unilever Pak and ICI Pakistan were worst losers by Rs 23.33 and Rs 4.00 to close at Rs 5524.17 and Rs 114.68 respectively.
Ahsan Mehanti at Arif Habib Investments said that the stocks closed lower at KSE amid thin trading on investors'' concerns over political uncertainty in the country. The uncertainty loomed on outlook for Pak-US relations after rejection of US probe by ISPR in investigation of Nato air strike. Investors awaited outcome of pending CGT issues at KSE. He said that institutional support in blue chip scrips helped the market to close above its session lows.