Reduced activity at KSE on lack of interest

Lack of interest dominated at Karachi Stock Exchange (KSE) Monday as 100 Index could gain only 10.61 points to close at 10,0063.58, dealers said.

A dealer at a leading brokerage house said that the market was opened on a positive sentiment, but slipped on selling pressure. The last minutes buying, however, helped the Index to make some gains amid ups and downs.

The turnover volume was low at 65.048 million share as 176 scrips advanced while 202 sustained losses and 25 remained unchanged.

The market capitalization was eroded by about Rs 10 billion to Rs 2.783 trillion.

Lotte Pak was the volume leader with a turnover of 10.258 million shares followed by Nishat Power 5.653 million shares, New Jubilee Life 5.459 million shares, Arif Habib 3.279 million shares and Nishat Mills 2.943 million shares.

D G Khan Cement closed at 24.96, Lotte Pak 8.80, Nishat Mills 48.76, Jahangir Siddiqui Co 10.37, New Jubilee Life 43.17 and Arif Habib Sec 23.57.

Unilever Pak recorded the highest increase of Rs 40.74 to 4000 followed by Colgate Palm which moved up by 34.14 to 717.13 while Nestle Pak dipped by 24.15 to 1856.35 and Fazal Tex went down by Rs 18.06 to 343.26.