KARACHI, Oct 17: Trading volume on the stock market on Friday fell to a an all-time single-session low at 0.193m shares as investors were worried over the falling foreign exchange reserves and the value of the rupee against the dollar.

For the fourth session in a row, the KSE 100-share index remained static or virtually frozen at 9,184.24 points and analysts failed to interpret the unfolding statistical phenomenon in the trading history of the KSE.

But one thing appears certain that big operators had demonstrated in more than one ways that if official market support fund will not bell the cat they too will not, some floor brokers said.

“The turnover figure barely managed to hold the six digit figure reflecting general lack of interest, although all roads may be leading to the currency market where the rupee was quoted around Rs87 to a US dollar in the kerb trading,” analyst Hasnain Asghar said.

But Ahsan Mehanti thinks the dollar is now the investor envy despite being massively expensive and it is the fact of the current trading pattern.

“Active selling in shares at a discount, notably by the foreign investors, is also finding its way into the money market and the US dollar being the target by all and sundry,” analyst Tabish H. Rajabali observed.

Positive news on Pakistan’s economic assistance notably by the western donors led by the US and assurance by China on the aid front did not encourage investors to make fresh commitments on any of the blue chips counters, analysts said.

“The reported figures of $4 billion and $3 billion by both the Western and Chinese donors is an impressive figure to bail out Pakistan from its current economic woes but much will depend on its timely injection into the local system,” they said.

They said everybody was apparently awaiting the removal of floor, but the news from the economic front tells a different story and the chances of post-floor market plunge were gaining strength.

It was perhaps on this ground that stray price changes were witnessed on the ready counter where only 36 shares out of 656 came in for stray bouts of buying and selling.

Among the prominent gainers, Pak Datacom and Fecto Sugar were leading, up by 95 paisa and Re1 followed by Fidelity Leasing, UDL Modaraba and Fecto Sugar, up by five to 70 paisa on stray demand.

Losers were led by Gharibwal Cement, Al-Noor Modaraba and Al-Khair Gadoon, which were marked down by four, 21 and 90 paisa respectively.

Trading volume tumbled to 0.913m shares from the previous 1.306m shares but gainers topped losers by six to four, with 26 shares holding onto the last levels.

KESC topped the list of actives, unchanged at Rs3.80 on 0.76m shares followed by Fidelity Leasing, up five paisa at Rs4.20 on 0.19m shares, Southern Electric, unchanged at Rs3.60 on 0.18m shares, Dewan Motors, static at Rs4.24 on 0.11m shares, National Asset Leasing, easy by two paisa at Rs0.43 also on 0.11m shares, Sitara Energy, unchanged at Rs21 on 0.10m shares and UDL Modaraba, up by 35 paisa at Rs4.35 on 0.6m shares.

Crescent Steel followed them, unchanged at Rs29.61 on 0.5m shares, Zeal Pak Cement, unchanged at Rs1.16 on 0.5m shares and Gharibwal Cement, lower four paisa at Rs18.05 on 0.4m shares.

FORWARD COUNTER: Trading remained suspended on the cleared list on technical reasons including extension in the contract periods from 22 to 45 days.

DEFAULTER COUNTER: National Asset Leasing came in for stray selling and was marked down by two paisa at 43 paisa on 10,500 shares followed by Invest Bank, unchanged at Rs5.01 on 2,000 shares and Zeal Pak Cement, also unchanged at Rs1.16 on 5,000 shares.