The market opened on a positive note and the index hit 9,523.86 points intra-day high, up 16 points. However, the momentum could not be sustained due to investors' cautious stance. Trading activity also reduced as the volume at ready counter declined to 140.218 million shares as compared to 145.252 million shares traded on Wednesday.
The overall market capitalisation declined by Rs 32 billion to Rs 2.705 trillion. Out of the total 402 active stocks, 223 closed in negative and 154 in positive while the value of 25 stocks remained unchanged. DG Khan Cement was the star performer with 12.631 million shares, gaining Re. 0.62 to close at Rs 32.56. The index heavy weight - OGDC declined by Rs 2.73 to close at Rs 110.61 with 4.930 million shares.
In the banking sector, Bank Al Falah and BoP lost Re. 0.28 and Re. 0.86 to close at Rs 13.77 and Rs 19.50 with 10.350 million shares and 8.743 million shares, respectively. Nishat (Chunian) gained Re. 0.49 to close at Rs 21.20 with 9.635 million shares. Arif Habib Sec lost Re. 0.27 to close at Rs 49.27 with 9.320 million shares. Lotte Pakistan declined by Re. 0.17 to close at Rs 7.83 with 6.355 million shares.
In the fertiliser sector, Fauji Fertiliser Bin Qasim (FFBL) and Fauji Fertiliser Co (FFC) declined by Re. 0.26 and Rs 2.20 to close at Rs 26.13 and Rs 102.93 with 6.336 million shares and 6.152 million shares, respectively. PTCL fell by Re. 0.12 to close at Rs 17.65 with 5.271 million shares.
Nestle Pak and Bata Pak were the top gainers with Rs 41.96 and Rs 29.00 to close at Rs 1245.96 and Rs 979.00, respectively while Exide Pak and Unilever Pakistan were the worst losers with Rs 6.25 and Rs 6.14 to close at Rs 172.75 and Rs 2300.00, respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said the intense selling was witnessed at the share market on the last trading session of the year 2009 after Moody's negative outlook on Pakistan banking sector. Uncertainty remained over Supreme Court hearing on petroleum prices. The fall in international equity outcome of the markets, institutional profit taking ahead of strike call in the city for Friday played a catalyst role in negative activity at KSE despite recovery in oil and gas production in the country and the trend of rising oil prices in the international market.