KARACHI - Higher global commodities and stocks failed to support investors’ sentiments. Falling foreign exchange reserves, economic uncertainty and limited foreign interest played a catalyst role in bearish activity at KSE despite support in selected SOEs on expectation for early privatisation and selected textile stocks on expectation of strong earning announcements due next week, an analyst observed here on Thursday.

At local equity market, the benchmark KSE 100-share index lost 220.91 points or 0.95 per cent to end the day at 23091.87 points after opening at 23312.78 points.

Profit taking was witnessed in stocks across the board after CPI for July clocked at 8.26pc MoM amid concerns for potential SBP Policy tightening.

KSE allshare-index shed 106.56 points or 0.64 per cent to close the day at 16508.35 points, KSE 30-share index decreased by 219.94 points or 1.21 per cent at 17942.84 levels while KMI 30-share index went down by 272.76 points or 0.67 percent to conclude the session at 40501.71 points.

The day turnover of stock market in term of shares was 199.419 million compared to 141.252 million of the previous day and the value of traded shares was maintained at Rs 8.993 billion from Rs 7.258 billion. Capitalization of the equity market settled at Rs 5.674 trillion compared to Rs 5.711 trillion of the previous day.

A dealer said on Thursday market fell after Engro Food’s management informed in an analyst briefing that company’s sales outlook is going to remain weak in upcoming quarters. As a result, Both EFOODS and ENGRO remained under pressure throughout the day and closed at their lower limit. Moreover, higher than forecasted July 2013 CPI number also forced investors to sell their positions ahead of the upcoming long weekend.

Shares of 365 companies were traded on Thursday where 228 closed in positive and 124 in negative while the values of 13 stocks remained intact. Nestle Pak and Wyeth Pak Ltd were the top price gainers of the day, up by Rs 190 to Rs 6390 and Rs 91.50 to Rs 1921.50. Downhill trend was led by Phillip Morris Pak and National Foods, decreased by Rs 14 to Rs 276 and Rs 10.11 to Rs 373.89.

PTCLA SPOT was the top traded company of the day with 17.538 million shares as it closed at Rs 27.81 after opening at Rs 28.11. National Bank was on the second position with 15.581 million shares, up by Re 0.38 to Rs 55.68. It was followed by Fauji Cement with 12.909 million shares, shed Re 0.18 to Rs 15.76, Sui South Gas with 11.611 million shares, grew by Re 0.64 to Rs 25.75 and Maple Leaf Cement with 10.430 million shares, off by Re 0.72 to Rs 29.69.