Karachi: KSE-100 remained on back foot as investors, concerned over inflation outlook and appointment of caretaker Cabinet, resorted to offloading their holdings. Benchmark index started day positive, hitting an intra-day high of 48,614.47, but profit-taking, especially in energy and fertiliser sectors, pushed index into negative territory. At close, KSE-100 settled at 48,146.44, down 0.86 percent or 419.31 points. However, massive 15 percent increase in price of petrol over last few weeks and high inflation outlook dimmed positive sentiment at PSX.
Sectors painting benchmark KSE 100 index in red included, oil and gas exploration (118.60pts), fertiliser (83.67pts) and banking (47.64pts). Company-wise, OGDC, FFC and POL were top negative contributors.
Refinery sector lost 2.03 percent in its cumulative market capitalisation, according to brokerage house.
Value of shares fell further to Rs 7.6 billion from Rs 9 billion in previous session.
K-Electric Limited remained volume leader with 19.3 million shares followed by Dewan Motors with 14.11 million shares and Oil and Gas Dev. with 10.96 million shares.
Bata (Pak) witnessed maximum increase of Rs 44 per share price, closing at Rs 1,770.00, whereas runner-up was Reliance Cotton with an Rs 25.79 rise in its per share price to Rs 488.29. Allawasaya Tex witnessed maximum decrease of Rs 140 per share closing at Rs 1,760; followed by Rafhan Maize with Rs 100.00 decline to close at Rs 8,500.
Shares of 339 companies were traded of which 88 registered an increase, 227 recorded fall and 24 remained unchanged.
