The KSE-100 declined by 17.27 points to close at 40,607.12 points. Trading activity remained thin as daily volumes on the ready counter decreased to 125.007 million shares as compared to 154.732 million shares traded Tuesday. Foreign investors however remained net buyers of shares worth $1.2 million. The market capitalization increased by Rs 9 billion to Rs. 8.119 trillion. Out of total 360 active scrips, 186 closed in negative, 143 in positive while the value of 31 stocks remained unchanged.
Fauji Foods was the volume leader with 10.308 million shares. However, it lost Re 0.19 to close at Rs 33.51 followed by P.I.A.C. (A) gained Re 0.12 to close at Rs 7.46 with 7.232 million shares. Nestle Pakistan and Bata Pak were the top gainers with Rs 400.00 and Rs 20.00, respectively to close at Rs 8,600.00 and Rs 1,600.00 while Unilever Foods and Pak Tobacco were the top losers with Rs 25.00 and Rs 23.68, respectively to close at Rs 6,975.00 and Rs 2,757.59.
BR Commercial Banks Index lost 2.75 points or 0.03 percent to close at 8,754.20 points with total turnover of 5.897 million shares. BR Cement Index decreased by 6.77 points or 0.16 percent to close at 4,169.18 points with 10.938 million shares.
BR Oil and Gas Index gained 7.03 points or 0.14 percent to close at 5,008.11 points with 5.058 million shares. BR Tech. & Comm. Index inched up by 12.35 points or 1.19 percent to close at 1,050.68 points with 16.510 million shares. BR Power Generation and Distribution Index closed at 6,296.74 points, down 23.49 points or 0.37 percent with 5.199 million shares. An analyst at Topline Securities said that the KSE?100 index experienced a dull session as it remained relatively unchanged, losing a minimal 17 points and closing at 40,607 level. "We attribute this to investors adopting a wait and see approach, with the State Bank of Pakistan's Monetary Policy statement to be announced on January 31, 2019)," he said.
Moreover, investors remained cautious as it is also the results season. With the National Tariff commission notifying a determination and levy of provisional Anti-Dumping duties on dumped imports of Tinplate into Pakistan, Investors flocked towards STPL (up 4.9 percent), as it is one of the companies which is expected to benefit the most. The scrip generated trading volume of 6.8 million, third highest in the session.