| GEO Business|
| No respite to KSE investors|
| Updated at: 2358 PST, Tuesday, September 16, 2008|
KARACHI: Selling pressure continued to weaken prices of leading scrips at Karachi Stock Exchange (KSE) Tuesday as 100-Index fell by 9.44 points to close at 9,223.52, dealers said.
The turnover volume was low at 9.966 million shares as prices of 18 scrips record gains and 38 sustained loss while 82 remained unchanged.
The market capitalization was eroded by Rs 3 billion to Rs 2.877 trillion.
Nadeem Chawla, a dealer at a leading brokerage house said that lack of support was badly hurting the market as big players and financial institutions stayed away. The market would have collapsed in the absence of capping, he added.
Ansari Sugar was the volume leader with a turnover of 2.260 million shares followed by Engro Chemical 1.843 million shares, MCB Bank 0.993 million shares, Al-Abbas Cement 0.573 million shares and Pak PTA 0.545 million shares.
Pakistan Cement closed at 4.90, Fauji Fertilizer 100, KESC 3.80, NIB Bank 8.45, Engro Chemical 184.70, MCB Bank 235.75, Ansari Sugar 8 and Pak PTA 3.18.
Clover Pakistan recorded the highest increase of Rs 3.99 to 151.99 followed by Pak Tobacco which moved up by 3.11 to 117 while Atlas Battery dipped by 5.75 to 120 and Pak Paper went down by Rs 5 to 130.