KARACHI, Dec 1: Trading activity on the stock market improved to 0.102 million shares on Monday, which though no match to the high daily volumes recorded early in the year, was significantly better over the Friday’s trading of an all-time low single session volume of 3,700 shares.

Investors were jittery over the growing number of problems. With the events unfolding in India, the spotlight shifted from financial problems to the geo-political situation. Over the weekend some other events were depressing for the investors.

Increase in profit rates in the range of 170 to 240bps on the National Saving Schemes (NSS) were believed to have been a part of the shift of government borrowings from the State Bank. It was, however, regarded as a disincentive for the equity markets.

Investors also were glum over the news that the Competition Commission of Pakistan had initiated investigation against the Karachi Stock Exchange for placement of ‘floor’ under the KSE-100 index.

An informal meeting of the stock brokers held in the afternoon on Monday did not come up with a firm date for the removal of the ‘floor’, but the management informed members about the meetings of the board of directors. The members also forwarded the proposals and views.

Stock brokers were also gearing up for the elections to the board of directors on Tuesday, when five member directors would be voted for the year 2009.

The KSE-100 index closed at the last level at 9,187.10 points without any change from Friday. Its junior partner the KSE-30 index also finished at the previous level at 9,981.98 points. The All-share index rose slightly by 0.08 points to 6,641.69 points.

The interest in the off-market transactions was comparatively more with a volume of 15.66 million shares.

Market capitalisation on Monday stood at Rs2,820.4 billion. In all 10 stocks came for trading with four ending in the plus column and one in minus.

Pak Datacom witnessed a gain of Rs2.38 to close at Rs50.08 on a trading in 97,000 shares. Habib-ADM ended at Rs9.74, higher by Re0.37 to Rs9.74. Highest volume for the day was recorded in National Assets at 0.083 million shares closing Rs0.05 down at Rs0.40. Millat Tractors saw volume of 2,700 shares to close at Rs163.92. Trust Modaraba closed unchanged on volume of 500 shares.

Mukhtar Textile ended at Rs0.55 with 500 shares in trade. Redco Textile saw a volume of 2,000 shares but at the old rate of Re1. Zeal Pak Cement witnessed 500 shares change hands at the previous price of Rs1.16. Pakistan Petroleum ex-dividend ended at Rs193.65 with trading in 100 shares.

Fauji Fertiliser, traded SPOT finished at Rs100 with 100 shares in trading and Unilever Pakistatn closed at Rs2,340 with 300 shares changing hands. Other scrips mostly finished at the old values.

FUTURES COUNTER: In line with the ready market, the futures counter also saw lacklustre activity on Monday.

DEFAULTER COMPANIES: The stocks on this counter were mostly ignored by the investors. A couple of scrips came up for trading but with negligible change.