KARACHI: The Pakistan Stock Exchange became flat after losing early gains as the benchmark 100-index added 12 points to reach 43085 level till midday on Friday.
The stocks recouped some previous losses after adding 111 points to reach 43183 level in early trading.
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.
