Local bourse took a breather on the last trading session of the week as investors opted to book profits before the weekend.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index fell 0.42 per cent or 53.08 points to end at 12,455.34 point level.
Investors opted to book profits ahead of the weekend after enjoying three per cent gain in the last few trading sessions, said Topline Securities equity dealer Samar Iqbal.
Engro was the volume leader after announcement of commercial operation of its new plant, however, gas shortage issue to the new plant kept the stock in the negative.
Trade volumes fell to dismal level of 51.7 million shares compared with Thursday’s tally of 77 million shares.
Major oil stocks witnessed mild pruning ahead of the weekend despite commencement of production from Pakistan Oilfields‘s (POL) Domail-1 well which is expected to produce 950 barrels per day of oil and 10 mmcfd gas. POL edged lower by 0.8% after a steady performance in the last two trading sessions.
Shares of 321 companies were traded on the last trading session of the week. At the end of the day 145 stocks closed higher, 159 declined while 17 remained unchanged. The value of shares traded during the day was Rs2.77 billion.
Engro Corporation was the volume leader with 5.81 million shares losing Rs1.11 to finish at Rs169.25. It was followed by Lotte Pakistan PTA with 5.7 million shares declining Rs0.16 to close at Rs14.51 and Faima Fertiliser Company with 4.19 million shares gaining Rs0.02 to close at Rs14.85.
Published in The Express Tribune, June 25th, 2011.
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