Bears on Tuesday prevailed on Pakistan shares market where KSE-100 index decelerated by 14 points or 0.03 percent to close at 39,787 compared to the previous record close of 39,801. Trade at ready-counter was recorded higher at 226 million shares the value of which appreciated to Rs12.49 billion from Rs10.73 billion on Monday.
Of the total 375 scrips traded, 203 gained, 147 lost and 25 stayed unchanged in terms of valuation. With market capital accumulating to Rs7.94 trillion, the foreign portfolio investment marked net selling of $2.76 million.
Dewan Cement led volumes with 29.7 million of its listed shares changing hands each retailed at Rs16.94. SNGPL, TRG Pakistan, K-Electric, Bank of Punjab, Lotte Chemical, Byco Petroleum, Power Cement, JSCL and Engro Fertilizers were other top traded issues of the day.
Futures trade rose to 52 million contracts from 30 million a day earlier.
"Mixed activity witnessed on the PSX amid institutional profit taking in oil scrips after sharp fall in global crude prices," said Ahsan Mehanti of Arif Habib Corp.
The analyst said support witnessed in selected cement and auto on speculations ahead of financial results.
"Weak exports, dismal CPI inflation data for July'16 and falling global equities played a catalyst role in bearish close in the earnings season," he said.