The Karachi share market started on a positive note and the KSE-100 index hit 15,589.32 intra-day high level on Monday. However, the index could not sustain that level due to profit taking at the fag end, pushing the index to close at 15,469.74 points level, down by 2.71 points.
The KSE-30 index gained 11.29 points and settled at its new high level of 18.871.15 points. Trading activity remained dull as the ready market volume declined to 254.486 million shares as compared to 406.958 million shares traded on Friday. The futures market turnover decreased to 57.279 million shares against 90.717 million shares previously.
The overall market capitalisation slightly increased by Rs 1 billion to Rs 4.737 trillion. Trading took place in 353 scrips, out of which 172 scrips closed in negative and 144 in positive while 37 remained unchanged.
Arif Habib Sec was the star performer with 23.559 million shares and gained Rs 0.60 to close at Rs 188.60 followed by Nishat Mills, which increased by Rs 6.15 to close at Rs 129.50 with 17.473 million shares. In cement sector, DG Khan Cement and Lucky Cement gained Rs 1.45 and Rs 0.05 to close at Rs 116.45 and Rs 144.10 respectively.
The E&P giant, OGDC increased by Rs 0.25 to close at Rs 137.50. Engro Chemical gained Rs 7.20 to close at Rs 347.40. Azgard Nine surged by Rs 3.80 to close at Rs 80.75. In banking sector, Bank Alfalah and MCB Bank increased by Rs 0.30 and Rs 4.50 to close at Rs 56.75 and Rs 418.00 respectively. Pervez Ahmed gained Rs 3.80 to close at Rs 80.20.
Siemens Pakistan and AKD Capital Limited were the highest gainers and gained Rs 31 and Rs 30 to close at Rs 1680 and Rs 730 respectively while Pak Engineering and Colgate Palmolive were the highest losers and lost Rs 18.40 and Rs 15 to close at Rs 349.60 and Rs 555 respectively.
An analyst at Live Securities said the market started on a positive note and the index hit all time high intra-day level, however profit taking in late hours by local institutions pushed the index down. Positive activity was observed in banking and cement sector stocks.