KARACHI - After MPS date announcement market lost its initial gains as investors were expecting increase in the policy rate tomorrow. Due to this, renewed buying interest was seen in banking sector which will benefit from rising interest rate. While cement stocks saw heavy battering being leverage companies. With market volume of 163m shares, BoP led the volume with 18.5m shares followed by FCCL 17m shares and JSCL 12 m shares, equity dealer Samar Iqbal observed here on Tuesday. 

The Karachi stock market benchmark KSE-100 share index shed by 78.62 points or 0.34 percent to end the day at 23302.46 points compared to 23381.08 points of the previous day.  Analyst at Arif Habib, Ahsan Mehanti said uncertainty over TTP peace talks and Pak-US relations played a catalyst role in bearish sentiments.

Record remittances and favorable car sales data for the quarter ended Oct’13 failed to impact the sentiments amid outlook for rupee instability after IMF repayments.

KSE-Allshare index off by 6.54 points or 0.04 percent to stop the day at 16955.13 points, KSE-30 share index misplaced 93.33 points or 0.52 percent to close the day at 17737.72 points while KMI-30 share index decreased by 297.77 points or 0.76 percent to conclude the session at 39087.45 points.  Bourse traded 163.626 million shares after opening at 205.244 million shares and the value of traded shares reduced to Rs 6.337 billion after opening at Rs 7.205 billion. Capitalisation of the market maintained at Rs 5.531 trillion compared to Rs 5.533 trillion of a day earlier.  Out of 339 companies where 178 closed in negative and 136 in positive while the value of 25 stocks remained intact. Nestle Pak.XD was the biggest price gainer of the day up by Rs 299.75 to Rs 7299.75 followed by Wyeth Pak Ltd increased by Rs 131 to Rs  4267.25. Sanofi-Aventis and Colgate Palmolive led the down hill trend decreased by Rs 22 to Rs 418 and Rs 17.25 to Rs 1500.

Active list was topped by Bank of Punajb with 18.521 million shares added Re 0.07 to Rs 10.95. Fauji CementXD was on the second position with 16.919 million shares as it closed at Rs 12.50 after opening at Rs 12.38.  It was followed by JS Siddiqi Company with 12.254 million shares up by Re 0.04 to Rs 9.49, National Bank with 9.074 million shares grew by Re 0.19 to Rs 53.70 and DGK CementXD with 8.785 million shares extended by Re 0.24 to Rs 72.69.