Index loses 11.86 points

After witnessing a mixed trend on Friday the KSE-100 index finally closed at 13,925.06 points, down 11.86 points. During the session, the foreign investors' interest in some selective stocks supported the index to hit 13,999.17 points, up 62.25 points. The foreign investors remained net buyers of shares worth $3.26 million.
On the other hand the local investors and institutions opted for profit taking and the index dropped into negative territory at 13,921.00 points intra-day low level, down 15.92 points. Trading activity also remained low as the volumes at ready counter declined to 165.289 million shares as compared to 177.585 million shares traded on Thursday. Of the total 361 active stocks, 155 closed in positive zone and 123 in negative while the value of 83 stocks remained unchanged.
Hub Power Company was the volume leader with 27.071 million shares and gained Rs 1.83 to close at Rs 40.85. Bankislami Pakistan increased by Re 1.00 to close at Rs 11.20 with 13.923 million shares. PTCL inched up by Re 0.48 to close at Rs 15.87 with 12.513 million shares.
Investors' interest was seen in the cement sector, as Lafarge Pakistan, DG Khan Cement and Fauji Cement surged by Re 0.35, Re 0.69 and Re 0.21 to close at Rs 4.77, Rs 42.77 and Rs 6.35 with 10.348 million shares, 9.887 million shares and 8.267 million shares respectively.
In the fertiliser sector, Fauji Fertiliser Co declined by Re 0.95 to close at Rs 110.13 with 7.882 million shares while Engro Corporation increased by Rs 2.92 to close at Rs 106.91 with 5.562 million shares. Jahangir Siddiqui Co inched up by Re 0.16 to close at Rs 16.11 with 4.193 million shares. JS Bank gained Re 0.36 to close at Rs 5.84 with 3.902 million shares.
Unilever Pak and Mithchells Fruit were the top gainers increasing by Rs 43.05 and Rs 12.23 to close at Rs 7233.88 and Rs 273.11 respectively while Nestle Pakistan and Wyeth Pak were the top losers declining by Rs 46.41 and Rs 11.33 to close at Rs 3908.75 and Rs 800.10 respectively.
Ahsan Mehanti at Arif Habib Corporation said that the stocks closed lower as investors remained cautious ahead of federal budget announcements due next week. He said that the uncertain global stocks and lower global commodities on possible Greece exit from euro-zone affected the sentiments. He said the rising local cement prices invited institutional interest in the sector despite uncertainty over Pak-US relations and disbursement of US aid pending progress over Nato supplies.