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KARACHI: The Pakistan Stock Exchange (PSX) today (Friday) has failed to sustain the gains made in the previous session and closed the day in the red.
Indices traded in red for the most part of the day while volumes remained decent. During the day, the benchmark KSE 100 index lost 277.73 points reaching an intraday low of 40,753.30. It closed lower by 223.94 points at 40,807.09.
Among other indices, The KMI 30 index declined by 629.57 points ending at 65,731.71, while the KSE All Share index settled with a loss of 76.69 pts at 28,719.60.
Overall market volumes increased from 389.17 million shares in the last session to 397.25 million shares. Unity Foods Limited (UNITY +2.50%), TRG Pakistan Limited (TRG +6.56%) and K-Electric Limited (KEL +0.27%) led the volume chart. The scripts had 53.46 million shares, 45.96 million shares and 23.11 million shares traded, respectively.
Sectors dragging the KSE 100 index lower included Oil and Gas Exploration sector (78.69 points), Cement sector (50.28 points) and Fertilizer sector (36.32 points).
Company-wise, Pak Petroleum Limited (PPL 31.53), Lucky Cement Limited (LUCK 27.08 pts) and Oil and Gas Development Company Limited (OGDC 23.15 pts) were top negative contributors.
The Oil and Gas Exploration sector lost 1.61 percent from its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC 1.61 percent), Mari Petroleum Company Limited (MARI 1.52 percent), Pak Petroleum Limited (PPL 2.33 percent) and Pakistan Oilfields Limited (POL 1.40 percent) all closed negative.
Global equity markets displayed a mixed performance. WTI Crude oil price declined by 0.59% to $45.42 from last close while Brent crude oil price appreciated by 0.96% to $48.26 (As at 4:52 PM PST Source: Investing.com).