KARACHI, Nov 20: The share market on Thursday showed quietly steady trend as investors played on both sides of the fence, but big players remained conspicuous by their absence.

The bulk of support confined to most of the undervalued shares, which are available below 50 paisa against their face value of Rs10, reflecting that no one is inclined to opt for high profile issues owing to risks involved after the removal of the ‘floor’.

National Asset Leasing again came in for active support and ended three paisa up at Rs0.47. But those who purchased it at the opening rate of Rs0.42 sold it when it hit the session’s high of Rs0.53, showing an increase of 11 paisa during the session, said a leading broker.

This pattern of trading is being followed by those who want to keep the wheel moving without taking even a calculated financial risk, he said.

“No one is sure how the market will behave after the ‘floor’ is lifted,” said a leading analyst Ashraf Zakari. “There is scare among the investors that the opening will be lower by 20 to 30 per cent in line with the off-the-floor transactions”.

He said that was why investors were playing safe awaiting the official announcement of the final date of removal of the ‘floor’.

Analyst Ahsan Mehanti said no one could precisely tell the final date of lifting of the floor, but some well-informed sources claim Dec 1 could be final as by that time the market support fund will be operative.

He said the current thin volumes showed that investors were not inclined to hold long positions on any of the counters, barring blue chips, and it was reflected by fractional price changes on all the counters.

The KSE 100-share and its junior partner KSE 30-share index remained static at 9,184.09 and 9,981.93 points, but the KSE all-share index posted a fractional rise of 0.36 points at 6,639.87.

Plus signs dominated the list under the lead of Gharibwal Cement and Standard Chartered Modaraba, up by 59 and 39 paisa respectively followed by National Asset Leasing and Mukhtar Textiles, which rose by five and 11 paisa respectively.

Most of the shares, which came in for trading remained static around the previous levels barring Southern Electric, lower by two paisa amid active dealings at the unchanged rate.

Trading volume fell modestly from the overnight level at 0.110m shares as compared to previous 0.182m shares but gainers held a lead over the losers at four to one, with seven shares holding onto the last levels.

National Asset Leasing again led the list of actives, firm by five paisa at Rs0.47 on 0.061m shares, followed by Balochistan Glass, static at Rs3.90 on 0.010m shares, Gharibwal Cement, up by 59 paisa at Rs17.59 on 0.010m shares, Standard Chartered Modaraba, higher by 39 paisa at Rs9 on 0.010m shares, Mukhtar Textiles, steady by 11 paisa at Rs0.64 on 8,000 shares, Southern Electric, easy two paisa at Rs3.60 on 5,000 shares and Network Micro Bank, static at Rs3.35 on 3,000 shares.

Habib ADM Sugar followed them, unchanged at Rs9.70 on 1,500, Dewan Auto, static at Rs1.45 on 1,000 shares and NIB Bank, unchanged at Rs8.45 on 500 shares.

FORWARD COUNTER: Trading in the futures contracts of 42 companies will be resumed from next Monday and will close on Dec 26 and the settlement of dues will be carried out on Dec 30, the KSE announced on Thursday but said it reserves the right to change any of the dates.

Owing to leveraged problems, trading remained suspended in the futures contracts for the last about three months.