KARACHI: Pakistan Stock Exchange (PSX) witnessed another lacklustre session on Friday owing to the lack of positive triggers and the ongoing political tussle but ended the week on a positive note.
The benchmark KSE-100 index closed with a meagre gain 28.59 points (0.07%) at 43,551.14 points. It plunged in early morning session and reached the lowest point of 43,686.35 points before it made a quick recovery but witnessed a muted response throughout the day. The total volume of shares were 68.444 million valued at Rs3.246 billion.
Of the 90 traded companies in the KSE100 Index, 37 closed up 52 closed down, while 1 remained unchanged. Sectors propping up the index were Commercial Banks with 35 points, Fertilizer with 28 points, Automobile Assembler with 9 points, Refinery with 8 points and Investment Banks/Securities with 6 points.
Sector-wise, the index was let down by Oil & Gas Exploration Companies with 35 points, Technology & Communication with 20 points, Textile Composite with 9 points, Oil & Gas Marketing Companies with 7 points and Real Estate Investment Trust with 3 points.
The lower bench KSE-30 index also witnessed a minor gain of 35.36 points (0.21%) and closed at 16,657.48 points. The total volume of shares was 39.790 million. The KMI 30 index increased by 29.24 points (0.04%) and closed at 70,090.59 points, while the All Share Index gained 46.37 points (0.16%) and closed at 29,859.99 points. The total volume of share traded were 161.846 million at the stock market.
Market Cap increased by Rs.11.43 Billion. Total companies traded were 320 compared to 334 from the previous session. Of the scrips traded 162 closed up, 130 closed down while 28 remained unchanged. Total trades decreased by 10,913 to 71,054. Value Traded decreased by Rs. 1.49 billion to Rs.4.15 billion.
The downward journey of Pakistani rupee and continuous decline in foreign exchange reserves have dented investors’ confidence. The stock market was also anticipating a political showdown in parliament as the prime minister faces a no-confidence motion but the threat has been receded for now at least.
