KARACHI, Jan 20: The share market on Thursday again fell across the board on renewed selling on the blue-chip counters at the inflated levels amid rumours that payout by some of the leading companies may not be that attractive as widely speculated.

Floor brokers said the index heavy-weights were again targeted in sympathy with reversal in global markets under the lead of oil, fertiliser and some other blue chips on renewed profit-selling.

Pakistan Oilfields, Engro Corporation, OGDC, Pakistan Petroleum, Fauji Fertiliser and Nishat Mills were notable among them, they said.

But some leading analysts said the correction was long overdue in the market's sustained rise during the last about eight week's sustained rise and the market will be back on the rails even at the weekend session on covering purchases at the dips.

“The payout outlook may not be that disappointing as being painted by some of floor brokers,” they said and added that not many including the foreign investors would afford to miss an attractive bait of capital gains at the current levels.

Active selling in the briskly traded Lotte Pakistan for the last couple of sessions followed by rumours of below analysts speculated dividend was said to be one of depressants, some brokers said.

Minus signs dominated the list under the lead of Unilever Foods and Millat Tractors, off Rs45 and Rs15.46 followed by Attock Refinery, Clariant Pakistan, Atlas Battery, Bata Pakistan, Service Industries, Dawood Hercules, National Refinery and MCB Bank, which suffered fall ranging from Rs5.06 to Rs12.01.

Prominent gainers were led by Wyeth Pakistan and Rafhan Maize, up by Rs45.75 and Rs35.38. Other good gainers included Siemens Pakistan, Pakistan Refinery, Fazal Textiles, Indus Dyeing and Colgate Pakistan, which rose by Rs5 to Rs6.83.

Traded volume was maintained at the overnight level of Rs184m shares but losers maintained a strong lead over the gainers at 272 to 104, with 20 shares holding on to the last levels.

The active list was led by Lotte Pakistan, off 94 paisa at Rs15.25 on 50m shares, Bank Of Punjab, steady by four paisa at Rs9.33 on 12m shares, Fauji Fertiliser Bin Qasim, lower 17 paisa at Rs41.97 on 12m shares, Azgard Nine, easy 30 paisa at Rs10.87 on 8m shares, Nishat Mills, off Rs2.82 at Rs68.41 on 7m shares, Lafarge Pakistan, easy by nine paisa at Rs3.51 on 7m shares and Arif Habib Corp, lower by Rs1.31 at Rs27.01 on 5m shares.

JS & Co followed them, lower 20 paisa at Rs11.40 on 5m shares, Fauji Fertiliser Bin Qasim, off Rs1.54 at Rs148.57 also on 5m shares and D.G. Khan Cement, lower by 60 paisa at Rs29.60 on 4m shares.

FUTURE CONTRACTS: Fauji Fertiliser came in for active selling and fell by Rs1.81 at Rs149 on 3.817m shares followed by Nishat Mills, off Rs2.67 at Rs68.67 on 2.383m shares and Fauji Fertiliser Bin Qasim, easy by 30 paisa at Rs42.07 on 1.589m shares.

Pakistan Oilfields sharply lower by Rs5.48 at Rs333.56 on 0.916m shares and Engro Corporation, lower by Rs1.81 on 0.522m shares.

DEFAULTER COMPANIES: Japan Power again led the list of actives, lower by 11 paisa at Rs1.73 on 0.482m shares, followed by Invest Bank, lower nine paisa at Rs0.63 on 33,407 shares and Trust Brokerage, easy by 10 paisa at Rs2.39 on 25,579 shares.