KARACHI: The stocks witnessed sharp decline in early trading as benchmark 100-index dropped 281.23 points to reach 39489.97 points level on Friday, the last trading day of the week.
On Thursday, the bears staged comeback at the equity market as KSE 100 index shed 286.82 points or 0.71 percent to close below 40,000 mark at 39771.20 points following profit taking led by institutional investors. The market opened on positive note. Foreign and local buying in energy, cement, fertilizer and gas sectors stocks led the index to hit intraday high of 40213.89 points. However, benchmark KSE 100 index failed to uphold gains and fell below psychological 40,000 barrier.
Volumes were slightly up to 239.05 million shares against 39.01 million shares traded on Wednesday. However, value of shares traded at the Pakistan stock market declined to Rs 13.7 billion against Rs 15.3 billion worth of shares traded on previous day. TRG Pak topped the volume leaders’ list with 30 million shares followed by K-electric (20 million), Pace (Pak) (12 million), Nishat (Chun.) (7 million) and Dewan Cement (6 million).
