KARACHI (November 28 2008): Uncertainty over the removal of floor kept the market participants at the sidelines and the benchmark KSE-100 index remained unchanged at 9,187.10 points level. Trading in some second tier stocks supported the ready market volume to increase to 82,500 shares as compared to 47,100 shares traded a day earlier. No trading was recorded at the futures counter.
Out of the total nine active scrips, one closed in positive and four in negative while the value of four scrips remained unchanged. National Assets was the overall volume leader with 51,500 shares, however, it lost Re. 0.02 to close at Re. 0.45. Dar-es-Salaam remained unchanged at Rs 4.50 with 10,000 shares.
While Al-Asif Sugar gained Re. 0.11 to close at Rs 4.25 with 6,000 shares, Paramount Modaraba remained unchanged at Rs 9.25 with 5,000 shares and Standard Chartered Modaraba closed at Rs 8.60, down by Re. 0.01 with 5,000 shares.
Habib-ADM Limited lost Re. 0.02 to close at Rs 9.37 with 2,000 shares, Taxila Engg declined by Re. 0.31 to close at Rs 4.46 with 1,500 shares and Millat Tractors remained unchanged at Rs 163.92 with 1,000 shares. Southern Electric closed at Rs 3.60 without any change with 500 shares.
Al-Asif Sugar was the highest gainer with Rs 0.11 gain to close at Rs 4.25, while Taxila Engg was the worst loser and lost Rs 0.31 to close at Rs 4.46. The lack of investors' interest was witnessed as trading took place in only nine stocks, analysts said.
On the other hand, off-market trading continued, as the market participants were not finding exit from the main market due to price floor. The absence of buyers even at the off-market counter forced the small investors to sell their holdings with an average 30 percent discount, they added.
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