MM News

An atmosphere of unease pervaded the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 Index fell by more than 1% or 423.6 points during the Friday trading session, closing at 38,407.98 level.

Uncertainty over a stalled International Monetary Fund (IMF) program added downside pressures to the market.

Throughout the week market lost 1,915.47 points (4.75% WoW) to close at the 38,407.98 level.

The KSE-100 index made an intraday high of 38,982.16 and an intraday low of 38,291.70 during the day.

Also read: Textile exports dip 16% to $1.36bn in December 2022

By the session’s end, the total volumes of the KSE-100 index stood at 51.56mn shares, decreased by 44.31% DoD from 92.58 shares traded on Thursday.

Out of 100, shares of 83 companies were traded on Friday, of which 66 recorded a fall, 17 registered an increase and three remained unchanged.

In terms of sectors, most of the negative contributors were commercial banks, technology, and oil & gas exploration which negatively contributed 194.74 points. On the flip side, the food and personal care sector closed the session positive, gaining 0.52 points by the day’s end.

Meanwhile, the volume leaders on the benchmark index were PPL (8.31mn), CNERGY (4.17mn), TRG (3.92mn), OGDC (3.45mn), and KEL (3mn).

The stocks that emerged as net losers during the day included: INDU (6.46%), MARI (1.47%), HINOON (2.19%), LCI (1.38%), and ABOT (1.85%). On the other hand, the scrips which gained the most during the session included NESTLE (0.95%), COLG (1.34%), MUREB (1.47%), ARPL (0.69%) and MTL (0.37%).