LAHORE: The Pakistan Stock Exchange (PSX) was shaken by the decision of Financial Action Task Force (FATF) who decided to place Pakistan back on its terrorist financing watchlist, media reports said on Friday. Market analysts are calling this a likely blow to Pakistan’s economy and relations with the United States.
The KSE 100 index which was seen hovering at an intraday high of 268.60 points plunged to a low of 43,014.03 with a loss of 514.48 points after the decision. The index settled the week with the loss of 261.31 points at 43,267.20. The KMI 30 index depreciated 481.02 points to 72,743.61 while the KSE All Share Index concluded the session 182.93 points in the red. The advancers to decliners ratio stood at 101 to 229.
The market volumes stroked 244.15 million with Dost Steels Limited (DSL -1.56 per cent) in the lead. The script had 27.39 million shares traded. Azgard Nine Limited (ANL +1.38 per cent) followed with a volume of 15.62 million and TRG Pakistan Limited (TRG -3.63 per cent) was next.
Foreign investors ended as net sellers of $ 2.78 million for the week. The sold a net of $ 3.86 million and $ 3.88 million in the fertilizer and commercial bank sector. Local insurance companies were accumulated equities worth a net of $ 14.48 million during the week.
Financial results were announced by the Pakistan Stock Exchange Limited (PSX -3.27 per cent). The exchange posted a net loss of Rs 8.42 million in the second quarter of FY18 which converted into per share loss of Rs 0.01. In the same period last year, the exchange had posted earnings per share of Rs 0.09.
