KARACHI: The KSE-100 Index on Thursday, lost 32.13 points to close at 11,515.59 level due to profit-taking in the late hours.
The market opened on a positive note and the indiex hit 11,652.74 points intra-day high. However, investors opted for profit-taking in the late hours that forced the index into the negative zone at 11,502.34 points intra-day low level.
However, trading activity improved as the volume at the ready counter increased to 92.473 million shares as compared to 83.732 million shares traded on Wednesday. Total market capitalization declined by Rs7 billion to stand at Rs2.991 trillion. Of the total 322 active stocks, 123 closed in the positive and 113 in the negative while value of 86 stocks remained unchanged.
Jahangir Siddiqui Co. was the volume leader with 15.809 million shares and gained Re0.71 to close at Rs5.16. Lafarge Pakistan inched up by Re0.09 to close at Rs2.01 with 7.885 million shares. Azgard Nine closed at Rs3.31, up Re0.16 with 5.991 million shares. DG Khan Cement increased by Re0.42 to close at Rs20.62 with 5.599 million shares.
Profit-taking was seen in the fertilizer sector as Fatima Fertilizer Co., Fauji Fertilizer Bin Qasim and Engro Corp. lost Re0.62, Re0.23 and Rs1.53 to close at Rs22.66, Rs46.51 and Rs102.25 with 5.409 million shares, 4.354 million shares and 2.966 million shares, respectively.
NBP lost Re0.82 to close at Rs41.29 with 5.153 millions shares while Lotte Pakistan PTA decreased by Re0.13 to close at Rs9.99 with 4.463 million shares.
Attock Refinery surged by Rs1.93 to close at Rs111.65 with 3.090 million shares. Nestle Pakistan and Unilever Pak were the highest gainers increasing by Rs153.54 and Rs73.12 to close at Rs3226.19 and Rs5516.60, repectively.
Rafhan Maize and Millat Tractors were the worst losers declining by Rs60.49 and Rs4.85 to close at Rs2552.78 and Rs428.43, respectively.
Ahsan Mehanti at Arif Habib Corp. said that Pakistan stocks closed lower amid higher activity on institutional proft-taking in overbought stocks.
Investors booked profits in blue-chip stocks after five sessions of bullish close after bi-monthly policy announcement by the State Bank of Pakistan (SBP) was delayed up to February 11 and the Supreme Court adjourned the hearing of Prime Minister Syed Yousuf Raza Gilani on the NRO implementation case till February 1.
He added that the index closed on its intra-day low despite strong recovery in global stocks and commodities on IMF lending plans to support euro debt concerns.
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