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The Karachi share market on Friday posted negative trend and KSE-100 index lost 43.45 points to close at 9,183.73 points from 9,227.18 points. The index hit 9,258.26 points intra-day high and 9,137.28 points low. The market witnessed low trading and the volume at ready counter declined to 96.8 million shares as compared to 206.854 million shares traded on Thursday.

Market capitalisation declined by Rs 13.734 billion to Rs 2.646 trillion from Rs 2.66 trillion. Of 384 active scrips, 160 closed in positive and 201 in negative, while the value of 23 scrips remained unchanged. Bank of Punjab was the volume leader with 19.17 million shares and closed at Rs 20.97 after a decline of Re 0.39. Bank Al-Falah gained Re 0.02 to close at Rs 14.20 with 9.89 million shares. Pace (Pak) lost Re. 0.23 to close at Rs 5.92 with 6.01 million shares.

Lafarge Pakistan Cem surged by Re 0.11 to close at Rs 2.17 with trading volume of 5.31million shares. Pak PTA lost Re. 0.04 to Rs 7.16 with 5.064 million shares. Nishat (Chunian) with 4.33 million shares trading volume increased by Re. 0.10 to close at Rs 17.46 and Jah Siddique Co lost Re. 0.64 to Rs 29.84 with 4.22 million shares.

Nishat Mills declined by Rs 1.61 to close at Rs 68.81 with 3.2 million shares. Arif Habib Securities lost Rs 1.08 to close at Rs 46.25 with 2.742 million shares and share price of PTCLA decreased by Re 0.05 to close at Rs 17.04 with 2.58 million shares.

Nestle Pak and Siemens were the highest gainers with Rs 24.39 and Rs 23.17 to close at Rs 1,228.89 and Rs 1,251.75 respectively, while Rafhan Maize and Fateh Taxtile were the worst losers with Rs 40.00 and Rs 21.87 to close at Rs 1,400.00 and Rs 415.53 respectively.

Analysts said that investors adopted wait and see policy after the Supreme Court decision on NRO, which has created some panic among investors. Therefore, investors stopped new investment in the market, as they are expecting uncertainty on political front.

Copyright Business Recorder, 2009


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