KARACHI: The Pakistan Stock Exchange (PSX) lost more than 100 points as the futures rollover week came to a close.
As some industries faced selling pressure, the index swung back and forth between the red and green zones. Investors’ worries about the weak economic growth and depressing economic statistics, which prevented the market from rising further, held back the market.
However, the index was able to halt a sharp decline thanks to encouraging corporate results and a strengthening Pakistani rupee.
Trading had earlier started out poorly, but thankfully the stock exchange was unable to maintain the momentum. The index began to move southward after trading resumed in the second session, and the session ended with losses.
The benchmark KSE-100 index dropped 126.28 points or 0.31 percent to close at 40,150.36 points.
According to a report from Arif Habib Limited, today’s market activity was range-bound because it was the final day of rollover week.
The benchmark KSE-100 index started the day in the green, but activity was slow. Profit-taking was seen during the final hour of trading, which caused the index to close in the negative territory.
Despite healthy volumes in the third-tier stocks, volumes on the main board remained low.
During the session, shares of 312 companies were traded. 108 stocks ended the day’s trading in the black, 179 in the red, and 25 were unchanged.
Compared to Thursday’s total of 251.27 million shares, total trading volume fell to 170.27 million shares. The total amount of shares traded that day
With 13.93 million shares trading, Unity Foods led the volume with a gain of Rs0.45 to close at Rs18.74. Lotte Chemical traded 9.96 million shares, losing Rs. 0.76 to close at Rs. 29.47, and Cynergyico PK Limited traded 8.78 million shares, losing Rs. 0.04 to close at Rs. 4.79, respectively.
