KARACHI: Selling pressure eroded values of leading scrips on Friday at the Karachi Stock Exchange (KSE) as the 100-Index slipped further by 43.45 points to close at 9,183.73.
Nadeem Chawla, a dealer at a leading brokerage house, said that the market was bullish in the morning for a short while but plunged on lack of support.
‘Investors were cautious and not willing to build up portfolios. They are watching the game from the sidelines and waiting for the dust to settle down after the Supreme Court verdict on NRO,’ he added.
The turnover volume was low at 96.809 million shares compared to Thursday’s 206.854 million as 160 scrips advanced and 201 sustained losses while 23 remained unchanged.
The market capitalisation eroded by Rs14 billion to Rs2.646 trillion.
Bank of Punjab was the volume leader with a turnover of 19.179 million shares followed by Bank Al-Falah 9.897 million shares, Pace Ltd 6.015 million shares, Lafarge Pakistan 5.316 million shares and Pak PTA 5.064 million shares.
Nishat Mills closed at Rs68.81, PTCL Rs17.04, Bank of Punjab Rs20.97, Jahangir Siddiqui Co Rs29.28, Bank Al-Falah Rs14.20 and Arif Habib Sec Rs46.25.
Nestle Pak recorded the highest increase of Rs24.39 to Rs1,228.89 followed by Siemens Pak which moved up by Rs23.17 to Rs1,251.75 while Rafhan Maize dipped by Rs40 to Rs1,400 and Fateh Textile went down by Rs21.87 to Rs415.53.—APP
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