The KSE-100 index on Monday declined by 102.38 points to close at 15,652.01 points due to selling pressure after mid session. The market opened on a strong positive note and the index hit 15,854.37 points intra-day high level. However, it could not sustain that level due to selling in various sectors.
Trading activities also remained low as the volumes at ready counter declined to 118.935 million shares as compared to 145.848 million shares traded on last trading session. Total market capitalisation declined by Rs 24 billion to stand at Rs 3.952 trillion. Of the total 326 active stocks, 197 closed in negative and 112 in positive while the value of 17 stocks remained unchanged.
PTCL was the volume leader with 17.451 million shares and gained Re 0.16 to close at Rs 19.87. Nishat Mills declined by Rs 2.94 to close at Rs 58.46 with 10.037 million shares. In the cement sector, DG Khan Cement and Lafarge Pakistan decreased by Rs 1.52 and Re 0.34 to close at Rs 48.69 and Rs 5.58 with 8.186 million shares and 6.006 million shares respectively. KESC lost Re 0.32 to close at Rs 5.38 with 7.875 million shares. Nishat (Chunian) closed at Rs 24.83, down Re 0.05 with 3.836 million shares.
Telecard Limited gained Re 0.15 to close at Rs 3.25 with 3.54 million shares. WorldCall Telecom inched up by Re 0.08 to close at Rs 2.87 with 3.265 million shares. UBL surged by Rs 3.51 to close at Rs 75.06 with 3.169 million shares. Jahangir Siddiqui Co lost Re 0.23 to close at Rs 13.54 with 3.07 million shares.
Colgate Palmolive and Shezan International were the top gainers increasing by Rs 30.20 and Rs 18.23 to close at Rs 1230.20 and Rs 382.87 respectively, while Rafhan Maize and Bata (Pak) Limited were the top losers declining by Rs 100 and Rs 54 to close at Rs 3,800 and Rs 1,070 respectively.
Ahsan Mehanti at Arif Habib Corporation said Pakistan stocks closed bearish amid institutional profit-taking after lower than expected cut in key policy rate announcement on October 5. Cut in CRR to daily minimum of three percent was taken positive for banking sector and invited investor support in banking stocks. He said uncertain outcome of ongoing NRO implementation case hearings and concerns for security situation in the country played a catalyst role in bearish sentiments at KSE despite late session support in leveraged stocks in cement, textile and fertiliser sectors amid concerns over gas shortfall in industrial sector.