No major surprise in the result of Attock group and Lucky Cement compelled investors to book profit above the key 17,000 mark. Profit taking was seen in all major stocks except for Engro Corp and Engro Foods. Engro foods once again closed at its upper limit after excellent result announcement last week, dealers observed here on Monday.
At local equity market benchmark KSE-100 share index shed 51.37 points or 0.30 percent to finish the day at 17,004.99 points as compared to 17,056.36 points of the last working day on Thursday. Analysts said investors booked profit at KSE in stocks across the board on renewed political noise after government political partners call on sit-in in front of Parliament House to ensure fair and transparent elections. Weak global stocks and commodities and concerns for rising circular debt in Pakistan energy sector played a catalyst role in bearish activity at KSE despite strong earnings outlook.
KSE-Allshare index lost 47.43 points or 0.39 percent to close the day at 11,984.08 points, KSE-30 share index shed by 35.33 points or 0.25 percent to end the day at 13,896.33 points while KMI-30 share index decreased by 105.92 points or 0.36 percent to close the day at 29,367.36 points.Market traded 189.497 million shares after opening at 270.777 million shares and the value of traded shares reduced to Rs 5.130 billion from Rs 6.906 billion. The capitalisation of stock market settled at Rs 4.246 trillion compared to Rs 4.263 trillion of last working session.
During the session, 328 stocks participated in the trading where losers beat the gainers 183 to 127 while the value of 18 stocks remained intact. Colgate Palmolive was the top loser of the day down by Rs 72.50 to Rs 1377.50 followed by Unilever Pak decreased by Rs 31.57 to Rs 9883.26. Shezan Inter and Pak Int.Con.SD were the top gainers of the day increased by Rs 19.47 to Rs 429.47 and Rs 9.65 to Rs 219.24.
Fauji Cement was the volume leader of the day with 50.183 million shares as it closed at Rs 8.12 after opening at Rs 7.80. Maple Leaf Cement was on the second position with 17.938 million shares off by Re 0.26 to Rs 17.50. It was followed by JS Co with 11.929 million shares shed by Re 0.52 to Rs 16.01, Lotte PakPTA with 9.819 million shares added Re 0.25 to Rs 7.18 and Lafarge Pakistan with 9.157 million shares, without any change closed at Rs 5.46.