KARACHI: The Pakistan Stock Exchange (PSX) endured a dull session again on Friday and the KSE-100 Index inched down 0.22% owing to late session selling spell.
Weakening macroeconomic indicators and lack of stability despite the resumption of the International Monetary Fund (IMF) programme played on investors’ mind.
As a result, the KSE-100 Index finished with a drop of 92.6 points or 0.22% to close at 41,679.49 points.
Following a short-lived spike, the market recovered from an intra-day low in the first session to close 73 points upward. Profit taking dominated throughout the second session and the stock market erased gains to end on a negative note.
Owing to weak sentiment, index bigwigs cement, chemical, banks and oil sectors reported major losses.
Sectors dragging the benchmark KSE-100 Index downwards included banking sector (81.32 points), oil and gas exploration sector (27.26 points) and tobacco sector (18.37 points).
Volume on the all-share index contracted to 219.4 million from 260 million on Thursday. On the other hand, the value of shares traded fell to Rs8.9 billion from Rs10.1 billion recorded in the previous session.
TRG Pakistan was the volume leader with 27.6 million shares, followed by Hascol with 26.1 million shares and WorldCall Telecom with 20.95 million shares.
Shares of 315 companies were traded on Thursday, of which 108 registered an increase, 188 recorded a fall, and 19 remained unchanged.
