KARACHI: The Pakistan Stock Exchange (PSX) on Friday closed the week on a negative note as the benchmark KSE-100 Index shed 61 points to drop to 43,011 points.
The benchmark showed positive activity in the first half of the session and touched a day’s high of 43,188 points. The index, however, adopted a negative trend in the second half and plunged 210 points to touch a day’s low of 42,861.
In all, 139.8 million shares worth Rs6 billion changed hands during the session. Of the 343 traded scrips, 90 advanced, 228 declined and 25 remained unchanged.
Overall, the textile sector dominated trading with 23.7m shares traded, while cable and electrical goods scrips, and the chemical sector, followed with 18.60m and 13.38m shares changing hands.
Yesterday, the investors remained concerned amid rising uncertainty over macroeconomic indicators and worries on depleting foreign exchange reveres. This led market to erase 368 points from index, closing at 43,073 level. Out of 352 active scrips, only 85 managed to close green, while 243 fell in their values.
KSE100 saw a dip of 500 points, courtesy of IMF economic outlook and concerns on fiscal stability. On top of it, news related to NAB opening cases against 52 companies marred the sentiment in the market.
Among sectors, E&P sector eroded 85 points from index, followed by commercial bank and cement with cumulative deletion of 108 points from index points. While refineries contributed 7 points to index. Volumes increased from 142.4million shares to 163million shares (+15percent DoD). Average traded value also increased by 26percent to reach $66.7million as against $52.9million. Stocks that contributed significantly to the volumes include ANL, KEL, PAEL, FCCL and UNITY reflecting 35percent of total volumes.
