KARACHI - Stocks closed lower amid cautious activity ahead of SBP key policy rate decision.

At local equity market benchmark 100-share index further reduced 97.75 points or 0.31 percent to end the day at 31344.07 points compared to 31441.82 points of the previous day.

Equity experts hope that market will perform positively in upcoming days owing the low prices of petroleum products which also bring down the inflation.

It is important for the new investors to take part cautiously in market while there is no fear for existing players who are already dealing with high indexes, he added.  

KSE-Allshare index off by 93.35 points or 0.40 percent to close the day at 23189.67 points, KSE-30 index misplaced 79.42 points or 0.39 percent to stop the trading at 20529.02 points while KMI-30 index fell by 113.06 points or 0.22 percent to conclude the session at 50168.24 points.

Ahsan Mehanti analyst at Arif Habib Corp said fall in International oil prices to 4 year low, concerns for dismal data on trade deficit for Jul-Oct’14, and limited foreign interest played a catalyst role in bearish activity at KSE despite record remittance data of over $6b Oct-Jul’14 and expectations for $25b annual export oriented new textile policy expected later this month.

During the session 405 companies exchanged their hands where 201 closed in positive and 189 in negative while the value of 15 stocks remained intact.

Unilever Foods SPOT was the biggest price loser of the day decreased by Rs 464.50 to Rs 9225.50 followed by Colgate Palmolive down by Rs 50 to Rs 1750. Nestle Pak.Xd and Exide (PAK) were the top price gainers of the day up by Rs 95 to Rs 8900 and Rs 87.91 to Rs 2016.88.

Market traded 235.517 million shares after opening at 305.027 million shares and the value of traded shares minimised to Rs 12.914 billion from Rs 16.513 billion. The capitalisation of the market maintained at Rs 7.306 trillion after opening at Rs 7.338 trillion.

Active list was topped by JS Co with 28.194 million shares as it closed at Rs 13.71 after opening at Rs 14.69. Soneri Bank was the second highest on volume chart with 12.578 million shares off by Re 0.55 to Rs 13.86. It was followed by Maple Leaf Cement with 10.844 million shares grew by Re 0.70 to Rs 32.13, Engro Fertilizer Ltd with 9.546 million shares misplaced by Rs  2.98 to Rs 62.01 and TRG Pak Ltd with 9.192 million shares added Re 0.29 to Rs 11.53.