KARACHI: Investors of the Pakistan Stock Exchange (PSX) witnessed another tug of war between bulls and bears on Friday, with the indices swaying in both directions before landing in the green.
The benchmark KSE-100 Index remained volatile throughout the day, recording its intraday low at 43,556.61 and intraday high at 44,003.75. It settled higher by 169.48 points at 43,900.68.
The index oscillated between red and green zones as certain sectors experienced selling pressure. Investors were concerned over the subdued economic growth and continuous depreciation of the Pakistani rupee, which prevented the market from advancing further.
The investors are also keeping a close eye on the mini-budget announcement due next week which will give the market a new direction.
Among other indices, the KMI-30 Index appreciated 386.01 points or 0.55pc to close at 71,158.48, while the KSE All Share Index added 79.4 points, ending at 30,028.55.
Shares of 327 companies were traded during the session. At the close of trading, 180 scrips closed in the green, 132 in the red, and 15 remained unchanged.
Overall trading volumes dropped to 312.07 million shares compared with Wednesday’s tally of 398.09 million. The value of shares traded during the day was Rs10.12 billion.
WorldCall Telecom was the volume leader with 29.2 million shares traded, losing Rs0.06 to close at Rs2.15. It was followed by Hum Network Limited with 25.96 million shares traded, gaining Rs0.32 to close at Rs6.33, and Telecard Limited with 17.5 million shares traded, losing Rs0.10 to close at Rs15.65.
