KARACHI, May 25: Stocks on Tuesday lacked normal trading interest as both leading institutional traders and general investors remained conspicuous by their absence for no apparent bearish reasons.

The lull, which suddenly gripped the market, is reminiscent of one of leanest traded sessions previously witnessed on the KSE, is not the fallout of any negative news.

"Leading investors seem to have taken a temporary nap ahead of the finance minister's Wednesday's proposed visit to the KSE and let their weaker links a free hand to play", says a leading broker "but the pause stands for a status quo rather than any price manoeuvring".

After moving between the low and the high of 5,443.11 and 5,478.90, the KSE 100-share finally finished with a nominal rise of 0.01 point at 5,465.17 as compared to 5,465.16 a day earlier.

Analysts said proximity of the national budget, fresh peace signals from the new Indian government and higher corporate announcements should have kept the market in a buoyant mood but the sudden lull worried everyone.

"The MMA protest meeting late in the evening in the city to protest against the killing of 11 persons in May 12 by-elections and the arrest of the alleged killers may be one of the inhibiting factors behind the lull", they said "fears of violence and law and order situation in a tense atmosphere may have kept investors away".

Steep decline in the turnover figure from a daily average of 450m shares to 243m shares reflects investors have decided to keep to the sidelines pending the outcome of MMA meeting rather than riding the bandwagon.

The trading on the stock market is expected to be normal by Wednesday as the finance minister proposed visit to the KSE to have discussions with the high-ups on the fiscal measures could generate a lot of short-covering at the lower levels.

Barring some leading textile shares, which remained in active demand partly on reports of higher exports and partly to expectations of enhanced dividend leading shares on the other counters came in for stray selling.

Leading losers were led by Pak Elektron, Atlas Battery, Javed Omer, Glaxo-SKF, Burewala Textiles, Clariant Pakistan and Grays of Cambridge, off by Rs3.50 to Rs14.75.

Some of the leading shares managed to finish higher under the lead of Murree Brewery, Shams Textiles, Nishat Chunnian PICIC, Lakson Tobacco, Dawood Cotton and Unilever Pakistan, which posted gains ranging from Rs3 to Rs10.

PIAC rose by 20 paisa after the announcement of its IPO from June 7 to 9, and recouped in part the overnight loss. It ended around Rs23.15 on 11m shares. Trading volume fell to 243m shares from the previous 393m shares as losers forced a strong lead over the gainers at 212 to 197, with 47 shares holding on to the last levels.

Sui Northern Gas topped the list of actives, up by Rs1.30 at Rs70.80 on 36m shares followed by Fauji Cement, easy 20 paisa at Rs17.15 on 20m shares, Nishat Mills, easy by five paisa at Rs54 on 14m shares, Sui Southern Gas, firm by 10 paisa at Rs35.50 on 12m shares and D.G.Khan Cement, lower 45 paisa at Rs60.80 on 11m shares.

Other actives were led by F.F. Bin Qasim, easy 25 paisa on 11m shares, PIAC, up by 20 paisa also on 11m shares, PTCL, easy 10 paisa on 10m shares, Kohinoor Textiles, up by Rs1.90 on 9m shares and Maple Leaf Cement, off 45 paisa also on 9m shares.

FORWARD COUNTER: Bank Al-Falah again came in for active support and rose by 30 paisa at Rs67.85 on 6m shares followed by Sui Northern Gas, higher by Rs1.50 at Rs71 on 3m shares, PTCL, easy by 11 paisa at Rs43.20 also on 3m shares, Hub-Power, lower 28 paisa at Rs34.28 on 1m shares and Nishat Mills, lower 15 paisa at Rs54.05 also on 1m shares.