The KSE-100 index on Wednesday declined by 83.17 points to close at 15,151.31 points as the investors opted for profit taking on available margins. During the session the market witnessed a mixed trend with the index oscillating between 15,255.82 points intra-day high and 15,127.91 points intra-day low levels.
Trading activities also remained thin as the volumes at ready counter declined to 203.644 million shares as compared to 312.49 million shares traded on Tuesday. Total market capitalisation reduced by Rs 22 billion to stand at Rs 3.861 trillion. Of the total 317 active stocks, 177 closed in negative and 113 in positive while the value of 27 stocks remained unchanged.
PTCL was the volume leader with 33.594 million shares however lost Re 0.91 to close at Rs 16.38. Pace (Pak) Limited gained Re 0.33 to close at Rs 3.10 with 15.5 million shares. Telecard Limited decreased by Re 0.23 to close at Rs 2.44 with 15.097 million shares. WorldCall Telecom decreased by Re 0.45 to close at Rs 2.71 with 11.959 million shares. TRG Pakistan closed at Rs 4.04, down Re 0.07 with 10.553 million shares.
NIB Bank lost Re 0.04 to close at Rs 2.4 with 9.589 million shares. Jahangir Siddiqui Co gained Re 0.13 to close at Rs 15.6 with 7.923 million shares. In the cement sector, Fauji Cement lost Re 0.18 to close at Rs 6.71 with 7.226 million shares, while DG Khan Cement gained Re 0.30 to close at Rs 52.1 with 6.836 million shares. Treet Corp (ROL) inched up by Re 0.21 to close at Rs 2.73 with 5.979 million shares.
Rafhan Maize and Nestle Pakistan were the top gainers increasing by Rs 100 and Rs 48 to close at Rs 3,885 and Rs 4,050 respectively, while Colgate Palmolive and Mithchells Fruit were the top losers declining by Rs 57.23 and Rs 13 to close at Rs 1,296 and Rs 360 respectively.
Ahsan Mehanti at Arif Habib Corporation said Pakistan stocks closed lower on profit-taking post major earning announcements at KSE. He said that consolidation in blue-chip stocks, uncertainty in global stocks and commodities, security concerns in the city and concerns for rising circular debt in Pakistan energy sector played a catalyst role in bearish sentiments at KSE. He said daily trading volumes remained lower amid support from institutions leading the index to close above its days low.