KARACHI, Sept 22: Trading on the stock market on Monday resumed on a cheerless note amid fears of more suicide attacks in the backdrop of Saturday’s Islamabad blasts.

Trading volume fell further to set new all-time low level of 3.524m shares as compared to last Friday’s 4.309m shares, which analysts billed as an 11-year low, as investors seemed to be more interested to have an overview on the developing law and order situation rather than in share business.

The investor’s falling interest in the share business even at the highly attractive level may well be had from the fact that the KSE 100-share index showed a fractional fall of only 0.38 points at 9,200 well above the floor.

Its junior partner, the KSE-30 share index on the other hand remained under pressure and posted a fresh fall of 46.08 points at 10,064.44 as compared to 10,110.52 at the last weekend.

“Investors are awaiting the outcome of the review of flooring due on Sept 25 before making fresh buying,” said a leading analyst Tabish H. Rajabali, adding “they are more worried over the official apathy on the issue”.

He said the turmoil on the global market was controlled a bit after the US launched the $700 billion rescue package but its after-effects would continue to haunt investors in the many weeks to come.

Analyst Ahsan Mehanti said the continued weakness of the rupee was a double-edged weapon and taking its toll in the share market, but what worried investors the most was that no visible official efforts to stabilise the rupee at a viable level.

There was a loud whispering that the rupee was heading to hit new low at Rs80 against the US dollar as buying pressure on it continues despite the fact that the greenback is no longer a safe haven for many reasons, he added.

Dividend news from the textile sector though were on the lower side but indicated that the performance of this leading sector of economy was fairly encouraging amid reports of a short cotton crop and higher prices.

Meanwhile, Eye Television announced to buyback its floating stock of 4.8m shares at Rs47 per share against its face value of Rs10. Its share was ruling around Rs42.

Leading gainers were led by National Foods, up by Rs18.07 followed by Berger Paints and Eye TV, up by Rs1.45 and Rs2, while Meezan Bank, Flying Cement and Siddiqsons Tin rose by 18 to 50 paisa.Sapphire Fibres and Pak Elektron were leading among losers, off by Rs7.99 and Rs2.33 followed by Capital Asset Leasing, Thal Ltd, East-West Insurance, Exide Pakistan and Mitchell’s Fruits, which fell by 60 paisa at Rs2.06.

Turnover figure fell to another low level of 3.524m shares from the previous 4.309m shares as losers held a fair lead over the gainers at 21 to 11 with 70 share holding on to the last levels.

Engro Chemical, which has been under pressure last week, came in for active short-covering at the lower level and ended unchanged at 180.44 on 1.163m shares followed by OGDC, unchanged at Rs94.43 on 0.277m shares, Descon Oxychem, unchanged at Rs9.74 on 0.240m shares, Crescent Steel, lower 19 paisa at Rs29.81 on 0.225m shares, Colony Thal Textiles, unchanged at Rs3.25 on 0.162m shares and Habib Modaraba, also unchanged at Rs6.29 on 0.120m shares.

Eye TV followed them, up Rs2 on share buyback news at Rs42 on 0.118m shares, D.G. Khan Cement, unchanged at Rs39.28 on 0.100m shares and PTCL, also unchanged at Rs31.50 on 0.75m shares.

FORWARD CIUNTER: Engro Chemical also led the list of actives on the cleared list and was last quoted lower by one paisa at Rs181 on 0.99m shares followed by PTCL, steady by one paisa at Rs30.62 on 0.36m shares, OGDC, unchanged at Rs95.92 on 0.33m shares and Fauji Fertiliser, unchanged at Rs100.70 on 0.16m shares.