Index sheds 19.68 points

The Karachi share market on Wednesday witnessed a mixed trend with the KSE-100 oscillating between 15,697.67 points intra-day high and 15,624.47 points intra-day low level. The index finally closed at the level of 15,654.62 points, down 19.68 points. Trading activities slightly improved as the volumes at ready counter increased to 91.253 million shares as compared to 82.838 million shares traded on Tuesday.
Total market capitalisation reduced by Rs 2 billion to stand at Rs 3.932 trillion. Of the total 320 active stocks, 164 closed in negative and 124 in positive while the value of 32 stocks remained unchanged. PTCL was the volume leader with 23.369 million shares however lost Re 0.58 to close at Rs 18.66. JS Growth Fund decreased by Re 0.05 to close at Rs 7.50 with 5.068 million shares. Sui Southern Gas Co gained Re 0.01 to close at Rs 22.02 with 3.925 million shares. PICIC Growth Fund inched up by Re 0.03 to close at Rs 13.15 with 3.567 million shares. Nishat Chunian Power declined by Re 0.43 to close at Rs 18.82 with 3.166 million shares.
In the fertiliser sector, Fauji Fertiliser Co and Engro Corporation increased by Re 0.14 and Re 0.30 to close at Rs 115.60 and Rs 95.69 with 2.900 million shares and 2.334 million shares respectively. Jahangir Siddiqui Co closed at the previous day's closing level of Rs 13.41 with 2.580 million shares. Maple Leaf Cement lost Re 0.10 to close at Rs 9.21 with 1.896 million shares while Fauji Cement gained Re 0.03 to close at Rs 6.33 with 1.796 million shares.
Unilever Food and Nestle Pakistan were the top gainers increasing by Rs 170 and Rs 121 to close at Rs 3,570 and Rs 5,346 respectively, while Millat Tractors and Thal Limited were the top losers declining by Rs 5.19 and Rs 4.45 to close at Rs 485.71 and Rs 98.64 respectively.
Ahsan Mehanti at Arif Habib Corporation said that stocks closed bearish amid thin trade on macroeconomic concerns. Fall in FDI during first quarter of current fiscal year, concerns for gas shortfall for industrial sector, rising political uncertainty and security unrest in city affected the sentiments. He said that bearish activity continued amid consolidation in stocks across the board in the quarter end earnings announcement session despite recovery in global stocks and commodities. Institutional support witnessed in selected bluechip stocks on speculations ahead of earning announcements.