KARACHI, July 27: Stocks on Friday ran into weekend profit-selling but larger fall was averted and only extreme gains were clipped thanks to presence of active support at the dips.

However, the broader market remained weak for the third session in a row as leading investors remained conspicuous by their absence weighed down apparently by negative news from the political and law and order fronts.

The KSE 100-share index closed the weekend session with a fall of 52.87 points at 13,630.50 but managed to hold on to larger part of the gains netted during the week.

Analysts said investors were certainly worried over the political uncertainty amid conflicting rumours about change in the existing set up, although it continues to be one of the major market constraints.

They said the correction was technical and normal weekend phenomenon and was nothing to do with the external negative factors as the market was expected to follow its corporate demands based on the earnings reports and dividend announcements.

The index has risen well over 300 points during the last couple of sessions as higher payouts announced by some of the leading companies evoked good interest on those counters, floor brokers said.

Board meetings of several leading companies are due next week and pace of higher payouts set by Al-Ghazi Tractors (cash 100pc) or International Industries (cash 37.5pc and bonus shares @33pc) signals that investors will be back in the market when the trading resumes next week, they said.However, foreign investors remained conspicuous by their absence owing to developing political situation and law and order situation in the tribal areas.

Among the top gainers, JS & Co and HinoPak Motors were leading, up by Rs12.50 and Rs17, followed by MCB, Exide Pakistan, Pakistan Refinery, National Refinery, Fazal Textiles, EFU General and Life, which rose by Rs4.40 to Rs11.50.

Prominent losers were led by Pakistan Cables and Unilever Pakistan, off by Rs12.90 and Rs45 respectively. Others notable losers included Arif Habib Securities, Javed Omer, New Jubilee Insurance, Thal Jute, Attock Refinery, Pakistan Oilfields, Pak-Suzuki Motors, Dawood Hercules, Packages, Mari Gas, AKD Securities and Pakistan Cables, off Rs5 to Rs12.90.

Trading volume fell to 239m shares from the previous 341m shares as losers maintained a strong lead over the gainers at 199 to 95, with 24 shares holding on to the last levels.

OGDC led the list of actives, lower by 15 paisa at Rs122 on 24m shares followed by National Bank, easy by 75 paisa at Rs258.75 on 21m shares, PTCL, up by 85 paisa at Rs59.40 on 17m shares and Fauji Fertiliser Bin Qasim, easy 40 paisa at Rs45.20 on 14m shares.

Lucky Cement, steady by 20 paisa at Rs128.20 on 14m shares, Japan Power, up by 15 paisa at Rs9.25 on 11m shares, Pakistan Petroleum, off Rs2.50 at Rs263.50 on 5m shares and Bank Alfalah, off Rs1.15 at Rs54.25 on 5m shares.

Other actives were led by Japan Power, up by 15 paisa on 11m shares, D.G. Khan Cement, lower 25 paisa on 10m shares and Bank of Punjab, off Rs1.80 on 8m shares.

FORWARD COUNTER: Lucky Cement led the list on the cleared list, lower 15 paisa at Rs129.50 on 7m shares, National Bank, easy by 51 paisa at Rs260.99 on 6m shares and Fauji Fertiliser Bin Qasim, lower by 10 paisa at Rs45.70 on 6m shares.