KARACHI - Stocks closed lower amid profit-taking in corporate earning announcements session at KSE.

The Karachi stock exchange 100 index slipped slightly by 5.20 points or 0.04 percent to settled at 14,374.34 points as compared to the 14,379.54 points of the previous session. Expert said Institutional support witnessed in blue chip stocks on improvement in Pak-US relations and speculations ahead of SECP chairman visit to KSE. Limited foreign interest amid uncertain global markets played a catalyst role in bearish activity at KSE. KMS-Allshare index misplaced 4.25 points or 0.04 percent to close the day at 10,101.66 points, KSE-30 share index slumped by 5.27 points or 0.04 percent to finish the trading activity at 12,499.34 points while the KMI-30 share index augmented the fresh gain of 64.51 points or 0.26 percent to lock the day at 24,852.17 points.

Dealers said profit taking in key stocks led index to close slightly negative. However, cement stocks continued to shine on the board with DGKC led the volume while Lucky also witnessed 3.9m shares. Towards the end of the trading session news flow from Makori East helped POL to close Rs.5.45 up and PPL to close at Rs.196.00.

The turnover of equity market was settled at 82.530 million shares from 89.542 shares of its opening and the value of traded shares was shrunk to Rs 3.782 billion from 3.801 billion. The capitalisation of local bourse was Rs 3.660 trillion as compared to 3.662 trillion of the previous day.

Shares trading took place in 371 companies where 137 closed in positive and 121 in negative while the values of 113 stocks remained intact. Unilever Pak and Unilever Food were the highest price gainers of the day increased by Rs 70.91 to Rs 7373.41 and Rs 59.89 to Rs 2809.82. Nestle Pakistan Ltd and Pak Gum and Chemical were the top losers of the day decreased by Rs 13.63 to Rs 4067.15 and 3.80 to Rs 132.95. 

Dera Gahzi Khan Cement was the volume leader in stock market with 12.388 million shares added Re 0.14 to Rs 43.60. Engro Food was on the second position with 9.488 million shares higher by Rs 2.53 to Rs 73.31.

It was followed JS Co with 6.105 million shares shed Re 0.13 to Rs 14.11, Lucky Cement with 3.907 million shares up Re 0.39 to Rs 124.42 and Fatima Fertilizer Company with 3.491 million shares off Re 0.08 to Rs 25.33.