KARACHI - Stocks fell sharply after major corporate earning announcements. Concerns over circular debt in the energy sector and slowdown in cement sector dispatches affected the investor sentiments, analyst observed here on Thutsday.

At the local equity market, thebenchmark KSE 100-share index lost 104.86 points or 0.69 percent to stop the day’s tarding at 15,188.53 points as compared to 15293.39 points of the previous day.  Ahsan Mehanti, market analyst at Arif Habib, said investors booked profits amid consolidation in blue chip stocks despite speculations in telecom sector ahead of pending approvals for international clearing house mechanism.

KSE-Allshare index shed 69.01 points or 0.64 percent to close the day at 10726.17 points, KSE 30-share index shed 118.37 points or 0.90 percent to finish the day at 12993.56 points while KMI 30-share index droped by 232.74 points or 0.86 percent to conclude the session at 26849.00 points.

Market traded 189.084 million share after opening at 174.197 million shares and the value of traded shares climbed Rs 5.282 billion as compared to Rs 5.135 billion of a day earlier. Stock market capitaliztion settled at Rs 3.875 trillion from Rs 3.901 trillion.

Trading took place in 329 companies where 198 closed in negative and 110 in positive while the values of 21 stocks did not change. Exide (PAK) and Island Textile were the top price gainers of the day, up by Rs 15.90 to Rs 341.56 and Rs 13.95 to Rs 295.70. Siemens Pakistan and Wyeth Pak Limited were the biggest losers of the day, down by Rs 19.00 to Rs 900.00 and Rs 16.67 to Rs 983.33.

P.T.C.L.A was the volume leader of the day with 28.578 million shares as it closed at Rs 19.57 after opening at Rs 18.61, added Rs 1.06 . Karachi Electric Supply Company was on the second position with 17.655 million shares, gained Re 0.24 to end at Rs 6.49. It was followed by WorldCall Telecom with 11.239 million shares, up by Re 0.26 to stop at Rs 3.04, Maple Leaf Cement with 9.408 million shares, up by Re 0.31 to close at Rs 8.78 and Telecard Limited with 8.832 million shares, rose by Re 0.24 to lock the day at Rs 2.76.