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Pakistan Stocks Shed 199 Points as Correction Continues

MM News Staff by MM News Staff
July 18, 2023

The benchmark KSE-100 Index concluded the final session of the week in the red with a loss of 198 points, despite the Pakistan Stock Exchange (PSX) having one of the best weeks in recent memory.

At close, the benchmark index settled at 45,067.98, a decrease of 198.98 points or 0.44%.

Sectors pulling the benchmark index lower included, oil and gas exploration (69.13 points), technology and communication (41 points) and cement (37.23 points).

Also read: Power tariff likely to reach Rs50/unit as NEPRA okays Rs4.96 per unit hike

Volume on the all-share index decreased to 267.5 million from 489.2 million on Thursday, while the value of shares traded declined to Rs6.8 billion from Rs14.5 billion recorded in the previous session.

Telecard Limited was the volume leader with 31.1 million shares followed by WorldCall Telecom with 20 million shares and K-Electric Limited with 19.4 million shares.

Shares of 323 companies were traded on Friday, of which 98 registered an increase, 196 recorded a fall and 29 remained unchanged.

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