Stocks closed lower amid pressure on scrips across the board on institutional profit-taking due to concerns for rising circular debt in energy sector impacting international payments for oil import by OMCs.
At local bourse benchmark 100-share index shed 35.52 points or 0.12 percent to end the day at 29730.86 points compared to 29766.38 points of the previous day.
Analyst at Arif Habib Corp Ahsan Mehanti said dismal auto sales data for May'14, selling pressure in fertilizer, textile and cement stocks impact by power shortfall played a catalyst role in bearish activity despite support in banking sector on renewed foreign interest, higher net interest margins and
Local bourse gained 0.75pc on week-on-week basis after MQM ended protests, coupled with healthy foreign buying, successful Govt offering of
KSE-Allshare index off by 14.38 points or 0.07 percent to close the day at 22043.58 points, KSE-30 index shed by 4.09 points or 0.02 percent to end the day at 20406.47 points while KMI-30 index misplaced 336.23 points or 0.70 percent to conclude the day at 47729.07 points.
The day turnover was 210.596mshares after opening at 212.347m shares and the value of traded shares was reduced to
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