KARACHI, Sept 2: Trading volume on the stock market on Tuesday fell to a second all-time lowest at 8.882m shares as investors kept to the sidelines apparently awaiting the post-presidential election political scenario.

The lowest volume was recorded at 5.349m shares on July 4, 2008 on reports of security forces operation in the tribal areas and fears of its negative fallout elsewhere creating law and order situation.

The KSE 100-share index posted a fresh modest rise of 19.36 points at 9,229.51 as compared to 9,210.15 a day earlier. Its junior partner the 30-share index also rose by 17.45 at 10,200.11 as compared to 10,182.66.

The notable feature was that the KMI-30 share index also made debut and was quoted higher by 31.29 points at 11,368.47 reflecting the strength of its leading base shares.

The activity in part also slowed down owing to the advent of Ramazan as investors preferred to pray more than indulging in risky share business, floor brokers said.

Floor brokers said in the highly polarised political scenario, investors were not inclined to make bigger commitments despite the fact that the current lower levels ensure handsome capital gains after political sanity returns to the thinking of the contenders of power.

As far as the corporate sector is concerned it has played its positive role after having turned out higher rate of dividend and bonus shares, they said, adding “the market is weighed down by other negatives and needs confidence-building measures”.

“I don’t see any big change in the market psychology in the near-future as all pointers are negative,” analysts said. “The outflow of funds continues where possible”.

Stray short-covering was noted in the leading oil and fertiliser shares and some other blue chips but investors generally played safe without taking any calculated risk, they added.

Leading gainers were led by Shell Pakistan and IGI Insurance, up by Rs18.74 and Rs8.66 respectively on belated post-dividend buying.

Other notable gainers included Central Insurance, Sapphire Fibres, National Refinery, Glaxo-SKF, Wah Noble Chemicals and Clariant Pakistan, which tended higher by Rs2.26 to Rs6.25.

Thal Industries and Shaheen Insurance were leading losers, off by Rs5.60 and Rs3.54 respectively followed by Ibrahim Fibres and Unilever Pakistan, off by Re1 and Rs1.11, respectively.

Trading volume fell to 8.882m shares from the previous 24m shares but gainers maintained a fair lead over the losers at 57 to 43, with 99 shares holding on to the last levels, out of 199 actives.

Zeal Pak Cement topped the list of actives, unchanged at Rs1.16 on 2m shares followed by NIB Bank, easy by two paisa at Rs8.45 on 1.113m shares, Fauji Fertiliser Bin Qasim Fertiliser, unchanged at Rs22.78 on 0.463m shares, Hub-Power, up 53 paisa at Rs22.24 on 0.339m shares, Pak PTA, unchanged at Rs3.18 on 0.258m shares Fauji Fertiliser, lower by 39 paisa at Rs103.51 on 0.234m shares.

Other actives were led by Allied Bank, unchanged at Rs58.31 on 0.197m shares, Fauji Cement, steady by seven paisa at Rs6.97 on 0.183m shares Haram Textiles, up by 55 paisa at Rs1.70 on 0.176m shares and United Bank, steady at Rs58.25 on 0.175m shares.

FORWARD COUNTER: NIB Bank led the list of actives on the cleared list, easy by seven paisa at Rs8.51 on 0.141m shares followed by Engro Chemical, up by Rs1.10 at Rs183.50 on 0.125m shares and Fauji Fertiliser, lower 48 paisa at Rs102 on 0.58m shares.

Pakistan Petroleum followed them, lower by 27 paisa at Rs191.50 on 0.40m and Fauji Fertiliser Bin Qasim, up by 12 paisa at Rs23.10 on 0.37m shares.

DEFAULTER COMPANIES: Trading on this counter remained dull in the absence of investors and as a result, price changes were fractional, Unity Modaraba and Norrie Textiles came in for stray support and were quoted unchanged at 53 paisa and Rs1.42 on 0.179m and 0.141m shares respectively.

DIVIDEND: Baluchistan Wheels, cash 12.5 per cent, Atlas Engineering 7.50 per cent, Safeway Mutual Fund, 2.5 per cent, Asian Stocks Fund, 1 per cent, Shield Corporation 10 per cent, Fecto Cement, NAMCO Balanced Fund, Sigma Leasing, nil Universal Insurance, bonus 10 per cent, right 15 per cent.

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Sept 2,2008

Market at a glance

TONE:steady,total listed 657,actives 199,inactives 458,plus 57,minus 43,unc 99

KSE 30-SHARE INDEX:previous 10,182.66,Tuesday’s 10,200.11,plus 17.45 points

KSE 100-SHARE INDEX:previous 9,210.15,Tuesday’s 9,229.51,plus 19.36 points

MARKET CAPITAL;previous Rs.2,882.360bn,Tuesday’s 2,888.448bn,plus 6.088bn

TOP TEN:gainers Shell Pakistan Rs.18.74,IGI Insurance 8.66,Sapphire Fibres 6.25,Clariant Pakistan 5.00,Glaxo-SKF 3.25.

LOSERS:Thal Ltd Rs.5.60,Shaheen Insurance 3.54,Ibrahim Fibres 1.11,Unilever Pakistan 1.00,J.S.Siddiqui(right),1.00.

TOTAL VOLUME:8.882m shares

VOLUME LEADERS:Zeal Pak Cement 1.642m,NIB Bank 1.113m,Fauji Fertiliser Bin Qasim,0.463m,Hub-Power 0.339m, Pak PTA 0.258m shares.