KARACHI - Stocks closed lower on Tuesday amid pressure on oil stocks after petition challenging OGDCL sale on London Stock Exchange was filed before Supreme Court.

At KSE, benchmark 100-share index shed 39.19 points or 0.13 per cent to close the day at 30355.22 points as compared to 30394.41 points of the previous day.

Ahsan Mehanti, analyst at Arif Habib Corp, said falling banking spreads & bearish international oil and cotton prices impacted the sentiments negatively in banking, oil and textile sector scrips amid institutional support on hopes for economic recovery following release of $1.1b IMF tranches in Dec’14.

KSE-allshare went up by 28.03 points or 0.13 per cent to end the trading at 22261.49 points, KSE-30 index fell by 88.46 points or 0.43 per cent to conclude the session at 20421.45 points while KMI-30 decreased by 48.77 points or 0.10 percent to conclude the session at 49076.64 points.

Faran Rizvi Seniro, Manager Equity Sales at JS Securities, said foreign outflow brought uncertainty in market while negative regional impact also shake investor confidence. International oil prices are declining day by day that would create more decline in sector.

Market traded 218.908 million shares after opening at 251.735 million shares and the value of traded shares fell to Rs 9.954 billion from Rs 10.263 billion. The capitalization of market maintained at Rs 7.057 trillion as compared to Rs 7.048 trillion of day earlier.

Trading took place in 414 companies where gainers beat the losers by 210 to 181 while the values of 23 stocks remained intact. Bata (Pak) was the highest price gainer of the day, up by Rs 163.37 to Rs 3430.87, followed by Siemens Pakistan, up by Rs 51.63 to Rs 1084.29. Rafhan Maize and Shezan Inter were the biggest price losers of the day, decreased by Rs 65.57 to Rs 11334.43 and Rs 35.23 to Rs 909.77.

Active list was topped by Lafarge Pak with 17.465 million shares, added Re 0.22 to Rs 16.90. It was follow by TRG Pak (R) SPOT with 11.886 million shares, extended by Re 0.56 to Rs 1.16, Ghani Automobile with 11.594 million shares, shed Re 0.67 to Rs 6.03, BOP with 9.234 million shares, marginally up by Re 0.01 to Rs 8.46 and TRG Pak Ltd with 8.452 million shares, grew by Re 0.46 to Rs 11.47.