KARACHI (November 27 2008): The KSE-100 index remained unchanged at 9,187.10 points as investors remained cautious due to uncertainty over removal of 'floor' issue and availability of market stabilisation fund. Trading volume at ready market slightly improved to 47,100 shares as compared to 44,600 shares traded a day earlier. No trading activity was witnessed at the futures counter.
Market capitalisation declined by Rs 6 billion to Rs 2.820 trillion. Trading took place in only seven scrips, out of which no scrip closed in positive. Three scrips closed in negative, while the value of four scrips remained unchanged.
Flying Cement was the volume leader with 22,000 shares. However, its price remained unchanged at Rs 4.32. Standard Chartered Modaraba lost Re. 0.09 to close at Rs 8.61 with 10,000 shares. Habib-ADM Limited declined by Re. 0.51 to close at Rs 9.39 with 8,000 shares.
TRG Pakistan remained unchanged at Rs 3.82 with 3,500 shares. UDL Modaraba closed at Rs 3.06 without any change with 2,000 shares. Gharibwal Cement lost Re. 0.36 to close at Rs 17.63 with 1,500 shares. Gatron Industries remained unchanged at Rs 44.10 with 100 shares.
Ahsan Mehanti at Shehzad Chamdia Securities said that depressed activity continued as investors remained concerned over fate of stock market bailout funds after IMF and advisor to PM on finance Shaukat Tarin hinted that government funds would not be used to bail out markets. Investors remained uncertain over the unfreezing of 'floor' as participants of bailout fund, namely NBP, NIT, State Life, EOBI failed to submit pledge over their perspective investments in the capital market.
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