Trading remained mainly in the second and third tier stocks on strong valuations. Expectations of lower CPI inflation for Dec'12, higher local cement and fertiliser prices invited intraday support in blue-chip stocks, he added. KSE-100 index also hit intraday high level of 16,957.84 points and low level of 16,876.83 points.
Some improvement was witnessed on trading side and overall 151.903 million shares were traded at ready counter compared to 113.199 million shares traded on Wednesday. Out of 355 active scrips, 124 closed in positive and 195 in negative while the share price of 36 stocks remained unchanged. The market capitalisation decreased by Rs 5.3 billion to Rs 4.241 trillion from Rs 4.246 trillion on last trading day.
Among top 10 leading scrips, Byco Petroleum remained the volume leader whose share price increased by Re 0.96 to close at Rs 13.22 with 24.04 million shares trading. KESC lost Re 0.37 to close at Rs 5.67 and its some 12.8 million shares were traded. The share price of Fauji Cement increased by Re 0.13 to close at Rs 6.5 on 11.9 million turnover. With share trading of 11.3 million, PIAC (A) lost Re 0.19 to close at Rs 3.8.
The share price of Wateen Telecom Ltd increased by Re 0.32 to close at Rs 3.17 with some 5.8 million share trading. TRG Pakistan Ltd closed at Rs 5.84, decreasing by Re 0.31 and its some 5.5 million shares were traded. Nishat (Chunian) gained Rs 1.69 to close at Rs 35.85 on 5.1 million turnover, while Pak Elektron Ltd's share price increased by Re 0.4 closed at Rs 11 with some 4.4 million turnover. With some 3.7 million shares trading, Jah Sidd Co lost Re 0.11 to close at Rs 16.04 and Fatima Fertiliser lost Re 0.15 to close at Rs 26.6 and its some 3.6 million shares were traded.
Nestle Pakistan Ltd and Indus Dyeing were remained highest gainers and their share prices increased by Rs 50 and Rs 29 to close at Rs 4,900 and Rs 629 respectively. While, Bata Pak and Sanofi-Aventis Pak were the worst losers and declined by Rs 40 and Rs 13.57 to close at Rs 1,320 and Rs 375 respectively. Escap COO Hasnain Asghar Ali said that low volumes and stagnation led sell-off coupled with off-loading in singled out E&P and Fertiliser stocks. The benchmark stayed in red zone, in post midday session that did intensified towards closing bell. However, renewed buying in various dividend yielding stocks on adjustment restricted the downside, benchmark however failed to maintain 16,900 on closing, he added.