KARACHI, Sept 21: Trading volume on the share market on Friday shrank to a modest total as investors kept to the sidelines most of the time apparently having an overview of the presidential election on Oct 6 and its likely impact on stock trading in politically charged atmosphere.

The KSE 100-share index, however, sustained the coveted level of 13,000 points and was quoted higher by 20.56 points at 13,065.17 as compared to 13,044.61 a day earlier. But on the other hand its junior partner, the 30-share index shed another 20.98 points at 15,707.13 points on fresh selling in the leading industrials.

A relatively improved performance given by some of the index heavy weights, OGDC, MCB, Engro Chemical and Attock Refinery, enabled it to maintain a steady posture, analysts said.

But the broader market was terribly tamed by the developing scenario on the political front and rigid positions taken by the contenders of power on some national and constitutional issues, analysts said.

The steep fall in the turnover figure reflects that investors are expected to play safe until the apex court announces its decision over the president’s dual office petition. Not to speak of the general investors, institutional traders also played in a low-key as no one among them was inclined to take even a calculated risk at this stage.

What seemed to have kept them away was the perception that future sailing both on the market and the political front may not be that smooth as the opposition parties have vowed to block Musharraf’s reelection through various options including resignations from the assemblies, analysts said.

They said foreign investors remained conspicuous by their absence, although buying euphoria created by a record rise in world oil prices should have been carried over at the current lower levels at which leading oil shares were ruling.

Away from the local developing scenario, the echoes of the current turmoil are viewed very tricky by the foreign investors involving financial risks and potential dangers to the Pakistani economy, they added.

Although losing shares led the list, some of the leading shares managed to finish higher under the lead of National Foods and Unilever Pakistan, up by Rs16 and Rs109.95, followed by Thal Jute, Pak-Suzuki Motors, Packages, Tri-Pack Films, Noon Pakistan, JS & Co, Fazal Textiles and Indus Motors, up by Rs7 to Rs15.

Pakistan Services and Siemens Pakistan topped the losers, off by Rs25 and Rs50. Other prominent losers were led by Arif Habib Securities, Premier Sugar, Pakistan Refinery, Atlas Honda, Atlas Battery, Gillette Pakistan and Pakistan Resource Co, off by Rs4.40 to Rs14.30.

Trading volume shrank to a modest total of 127m shares from the previous 215m shares as losers maintained a fair lead over the gainers at 151 to 119, with 33 shares holding on to the last levels.

WorldCall Telecom led the list of actives, up by 90 paisa at Rs20.30 on 18m shares followed by Japan Power, lower 10 paisa at Rs9.95 on 11m shares, Arif Habib Securities, off Rs4.90 at Rs129.05 on 8m shares, Attock Refinery, higher by Rs5.25 at Rs218.25 on 7m shares, Lucky Cement, steady by 45 paisa at Rs124.60 on 6m shares, OGDC, firm by 30 paisa at Rs114.80 on 5m shares and Engro Chemical, up by 60 paisa at Rs252.50 also on 5m shares.

Other actives were led by TRG Pakistan, easy by 15 paisa on 6m shares, Javed Omer and Company lower by Rs3.05 on 4m shares and D.G. Khan Cement up by Rs1.25 on 3m shares.

FORWARD COUNTER: Lucky Cement, led the list on the cleared list, up by 55 paisa at Rs124.95 on 5m shares, followed by MCB, higher by Rs4.10 at Rs322.60 on 3m shares and OGDC, steady by 35 paisa at Rs114.75 also on 3m shares.