Connect with us

Hi, what are you looking for?

Online Business Success

Optimism at PSX proves short-lived as KSE-100 ends Friday with 108-point drop


Investors can be seen looking at the stock list at PSX. — AFP/File
Investors can be seen looking at the stock list at PSX. — AFP/File
  • Benchmark KSE-100 index closes the week at 44,477.24 with a decline of 0.24%.
  • Volumes decreased from 296.03 million shares to 176.1 million shares.
  • Investors kept a close watch on the ongoing virtual IMF review for the $6 billion loan programme.

KARACHI: The Pakistan Stock Exchange (PSX) concluded the week on a negative note as the benchmark KSE-100 index shed over 100 points in Friday’s session.

Overall, a dull session was witnessed at the bourse today as the ongoing virtual International Monetary Fund review for the $6-billion loan programme kept investors on the sidelines.

Investors kept a close watch on political news after the government decided to continue to avail the services of Shaukat Tarin as an adviser to the prime minister on finance after his tenure ends and till the time he becomes a senator.

The KSE-100 index opened on a positive note but recorded losses at regular intervals. The downtrend turned steeper after trading resumed after the prayer break as the index once again fell below the 44,500-point mark.

Benchmark KSE-100 intra-day curve. — PSX data portal
Benchmark KSE-100 intra-day curve. — PSX data portal

At close, the benchmark KSE-100 index recorded a decrease of 108.81 points or 0.24% to settle at 44,477.24.

A report from Topline Securities noted that range-bound activity was observed at the bourse today, as the index traded between an intra-day high and low of 84 points and 248 points to finally close the session at 44,477.

“Major contribution to the index came from Systems Limited, HBL, Colgate-Palmolive, BAHL and MCB, as they cumulatively contributed 108 points to the index, whereas Lucky Cement, Hubco, Fauji Fertilizer Company, Cherat Cement and TRG Pakistan lost value to weigh down on the index by 90 points,” it said.

Overall, volumes decreased from 296.03 million shares to 176.1 million shares (-40.5% day-on-day). Meanwhile, the traded value clocked in at $6.8 million against $10.5 million.

During the session, shares of 550 listed companies were traded. At the end of the session, 165 stocks closed in the green, 369 in the red, and 16 remained unchanged.

Advertisement. Scroll to continue reading.

WorldCall Telecom was the volume leader with 18.5 million shares, losing Rs0.01 to close at Rs2.53. It was followed by Telecard Limited with 14.2 million shares, losing Rs0.59 to close at Rs18.67, and Silk Bank with 9.3 million shares, gaining Rs0.04 to close at Rs1.56.



Source link

Click to comment

Leave a Reply

Advertisement

Latest

Top Stories

A group of five Democratic senators has reportedly rejected President Joe Biden’s nominee, Saule Omarova, to head the Office of the Comptroller of the...

Online Business Success

— Reuters/File Bitcoin, the largest digital currency, fell as much as 7.8% to $54,377, its lowest since October 12. Bitcoin hit an all-time high...

Loan And Finance

When it comes to banking, most of us are just looking for something convenient and free … but it’s that much better when your...

Technology

IKEA is battling an ongoing cyberattack where threat actors are targeting employees in internal phishing attacks using stolen reply-chain emails. A reply-chain email attack...

Top Stories

Salvadoran President Nayib Bukele bought the dip again, investing more than $5 million into Bitcoin as the price dropped under $54,000 Friday. In a...

Online Business Success

— Reuters/File Oil prices recorded the largest one-day drop since April 2020. Brent crude fell $8.77, or 10.7%, to $73.45 a barrel. The forecasts...

Top Stories

A push in Thailand to boost gross domestic product (GPD) by targeting crypto digital nomads is coming closer to fruition, according to local media....

Top Stories

Crypto exchange Deribit is the absolute leader in the Bitcoin (BTC) options markets, and on Nov. 24, the 25% delta skew indicator signaled that...

Advertisement

You May Also Like

SEO Guide

How to index website on Google? Do you want to drive more organic traffic to your new website? I am sure your answer is...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Blogging

In this post, I will discuss the top ten profitable blogging niches ideas for Adsense approval and high traffic. whether you use Blogger or...

SEO Guide

Want to rank in Google image search? Images that you use as a featured images when writing a post actually appear on Google Images...

Advertisement