The Karachi Stock Exchange benchmark 100-share index ended 0.13 per cent or 16.07 points lower at 12,061.77.
A court on Thursday delayed until next month a hearing into the diplomatic immunity of US national Raymond Davis who killed two men in Lahore on January 27.
Investors preferred to remain sidelined owing to growing diplomatic tensions between Pakistan and the US, said JS Global Capital analyst Murtaza Jafar.
The number of shares traded fell to a four-month low of 60.38 million shares from Tuesday’s 97.04 million shares. The market remained closed on Wednesday on account of Eid Milad-un-Nabi.
DG Khan Cement closed at its lower limit after announcing results for the first half of 2010. The company posted earnings per share of Rs0.53 along with 20 per cent right shares.
Dawood Hercules Chemicals closed at its upper circuit breaker towards the end of session as the company posted earnings per share of Rs17.86 along with an extraordinary 300 per cent stock dividend and 10 per cent cash payout.
Unilever Pakistan, the top gainer, jumped to its upper limit to close at Rs212.2. The company on Tuesday announced an increase of seven per cent in net profit to Rs3.27 billion on higher sales.
Shares of 654 companies were traded on Thursday. At the end of the day, 93 stocks closed higher, 179 declined and 382 remained unchanged. The value of shares traded during the day was Rs3.09 billion.
Bank of Khyber was the volume leader with 5.35 million shares, losing Rs0.07 to finish at Rs4.03. It was followed by Engro Corporation with 4.66 million shares on foreign interest. The stock gained 1.7 per cent to close at Rs218.77. Lotte Pakistan PTA came in third with 4.25 million shares, losing Rs0.19 to close at Rs16.1.
Published in The Express Tribune, February 18th, 2011.
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