KARACHI, Sept 15: Stocks finished the weekend session on an easy note as leading investors kept to the sidelines owing to pressure on money supply and the absence of leading punters. The KSE 100-share index again breached through the 10,000-point barrier at 9,984.57, a fall of 44 points.

An idea of the sluggishness may well be had from the fact that the turnover figure again fell below the 100m share mark, signalling that only fresh liquidity could come to the aid of the falling market.

But the opening was on the higher side aided by spill over of the overnight pent-up demand but the afternoon session witnessed a lot of profit-selling on the overvalued shares, notably banks and oil.

News from the privatisation front, notably related to PSO were positive and evoked a lot of interest in it but the broader market did not respond to its technical demands.

The KSE 100-share index was quoted lower by 43.93 points at 9,984.57 on active selling in the leading base shares, while the 30-share index fell by 111.23 points at 12,401.20 points.

Earlier, the underlying sentiment was influenced favourably by higher final dividend at the rate of 20 per cent (30pc interim already paid) by the new management of the Pakistan Telecommunication Company (PTCL).

Although the telecom profit fell by Rs6 billion and EPS at Rs4.07 as compared to Rs5.22 a year earlier, the management enhanced dividend on higher revenue projections during the next fiscal.

Oil shares again led the market decline on selling prompted by falling world crude oil prices and negative impact on their earnings during the next year followed by inventory losses, analysts said.

Both the leading market trend-setters, Pakistan Petroleum and Pakistan Oilfields again received massive battering taking the entire market along with them in the minus column. Bank shares followed them on stray selling.

Artistic Denim and Pakistan Services were leading among the gainers, up by Rs11.25 and Rs16 respectively. Other prominent gainers were led by United Bank, Javedan Cement, Pak Datacom, Clariant Pakistan, Pakistan Engineering, Pakistan Refinery and Millat Tractors, which posted gains ranging from Rs3 to Rs10.

Losers were led by Arif Habib Securities, Central Insurance, Sitara Chemical, Clover Pakistan, Pakistan Oilfields and AKD Securities, off Rs5 to Rs7.65.

Trading volume fell to 84m shares reflecting general sluggishness as losers held a fair lead over the gainers at 148 to 114, with 30 shares holding on to the last levels.

MCB was actively traded and led the list of actives, up by 75 paisa at Rs228.95 on 12m shares followed by National Bank, off Rs1.65 at Rs228.30 on 9m shares and D.G.Khan Cement, lower Rs2.50 at Rs94 on 6m shares.

Pakistan Petroleum, off Rs4.75 at Rs227 on 3m shares and Pakistan Oilfields, sharply lower by Rs7.05 at Rs323.45.

Other actives were led by Fauji Cement, lower 60 paisa on 3m shares, Faysal Bank, up by 30 paisa also on 3m shares, PICIC, steady by 35 paisa on 3m shares and Fauji Fertiliser Bin Qasim, easy 20 paisa also on 3m shares.

FORWARD COUNTER: MCB also led the list of actives on this counter, up by 50 paisa at Rs229.50 on 3m shares followed by National Bank, off Rs1.40 at Rs229.30 on 2m shares and OGDC, off Rs1.65 at Rs121.75 also on 2m shares.

D.G. Khan Cement followed them, lower Rs2.25 at Rs94.45 on 2m shares and Pakistan Petroleum, off Rs4.25 at Rs228 on 1m shares.

DEFAULTER COS: Unity Modaraba, which was shifted from this counter to the ready section after its management met the KSE demand, was actively traded, lower by 20 paisa at 65 paisa on 3.823m shares followed by Norrie Textiles, higher by 70 paisa at Rs3.50 on 1.333m shares and Pangrio Sugar, unchanged at Rs9 on 0.486m shares.

Crescent Standard Bank on the other hand was marked down by 15 paisa at Rs2.95 on 0.161m shares, while others were modestly traded.

DIVIDEND: Jahangir Siddiqui & Co, cash 25 per cent, Zulfiqar Industries, 50 per cent, Cherat Papersack, 15 per cent, Island Textiles 25 per cent, Salfi Textiles 10 per cent and Tata Textiles, 10 per cent.