KARACHI, Sept 20: Stocks ended lower on Thursday as cautious investors opted to book profits ahead of the long weekend amid the country’s deteriorating law and order situation.

Markets will remain closed on Friday as the government has announced a public holiday to observe Youm-i-Ishq-i-Rasool (PBUH) following protests against the anti-Islam movie.

The KSE 100-index ended 0.87 per cent, or 136.02 points, lower at 15,452.64. However turnover increased to 159 million shares, compared with 132 million shares traded on Wednesday.

Trading value fell to Rs4.3 billion from the previous day’s Rs5.34 billion, which shows that trading was witnessed mostly in second to third-tier shares.

Market capitalisation also fell marginally to Rs3.91 trillion, compared with Rs3.95 trillion on Thursday.

“Waves of violence and strikes against the film and an extended weekend caused investors to book profits pushing the index down by 135 points,” said Ahfaz Mustafa, Director at Ismail Iqbal Securities Ltd.

Dealers said a fall in international oil prices added pressure on the energy sector.

Oil prices slumped $4 on Wednesday as Saudi efforts to tame prices and a massive rise in US crude inventories after Storm Isaac fuelled a third day of heavy fund liquidation, one of the biggest sell-offs in more than a year. European benchmark Brent crude crashed below the 50- and 200-day moving-average, sparking technical selling that pushed it to the lowest in six weeks.

This led to heavy weight OGDCL fall by Rs2.89 to Rs180.17, Pakistan Oilfields, which is the most susceptible to global oil prices, shed Rs7.96 to Rs430.70 and Pakistan Petroleum Ltd ended 80 paisa lower at Rs56.25.

On a week-on-week basis the market ended three points higher but volume dropped by 21 per cent on average to 130 million shares.

“Although handsome full-year payout announcement from Attock group and signs of reconciliation between judiciary and government on NRO case reflected positively on the market, which touched 15,600-mark during the week.

However, fall in global equity markets and decline in international oil prices brought across the board selling on the last trading session,” said Samar Iqbal, a dealer at Topline Securities Ltd.

Foreign investors bought shares worth a net $0.57 million, lower than Wednesday’s $2.02 million, while companies were the major sellers of equity with $6 million.

The market capitalisation based index KSE-30 index shed 1.16 per cent, or 153.21 points, to end at 13,024.57. Out of the 346 companies, the value of 130 advanced, 198 declined, while 18 remained unchanged.

Nestle Pakistan Ltd witnessed the highest increase of Rs50 to end at Rs4,150, followed by Siemens Pakistan which rose Rs35.92 to close at Rs954.99.

Rafhan Maize had the biggest fall of Rs54.44 to Rs4,397 followed by Pak Gum & Chemical which shed Rs11.02 to close at Rs211.05.

In the top ten most active scrips, PTCLA, volume leader, fell 85 paisa to Rs19.02 on turnover of 16.15 million shares, KESC shed Rs1 to Rs6.65 on 14.56 million shares, NIB Bank marginally lost one paisa to Rs2.63 on 13.62 million shares.

Invest Bank gained 20 paisa to Rs1.05 on 5.45 million shares, IGI Invest Bank rose 41 paisa to Rs2.58 on 4.72 million shares, D.G. Khan Cement decreased 93 paisa to Rs48.05 on 4.32 million shares, Jahangir Siddiqui Co fell 29 paisa to Rs13.77 on 4.23 million shares.

Nishat Chunian Power ended flat at Rs15.90 on 4.15 million shares, Fauji Cement shed 18 paisa to Rs6.04 on 3.98 million shares and WorldCall Telecom ended 15 paisa lower at Rs3 on 3.7 million shares.