PSX closes flat in volatile session

Benchmark KSE-100 Index shed 1.32 points or 0.00pc to close the week at 43,232.83 points

KARACHI: The Pakistan Stock Exchange (PSX) closed flat on Friday after witnessing the third largest decline ever a day earlier.

The benchmark KSE-100 Index shed 1.32 points (0.00 percent) to close the week at 43,232.83 points.

The market opened on a negative note and shed over 600 points during the first few minutes. Overall, the market remained volatile throughout the session. The KSE-100 Index moved in a range of 2,281.67 points, showing an intraday high of 43,590.52 points and a low of 42,752.76 points.

A total of 340 companies traded shares in the stock exchange, out of them shares of 117 closed up, shares of 212 closed down while shares of 11 companies remained unchanged. Out of 92 traded companies in the KSE-100 Index, 42 closed up, 49 closed down and one remained unchanged.

The overall market volumes decreased by 99.02 million to 287.73 million shares. Total volumes traded for the KSE-100 Index decreased by 74.11 million shares to 139.33 million shares. The number of total trades decreased by 12,686 to 119,097, while the value traded decreased by Rs3.78 billion to Rs10.28 billion. Overall market capitalisation decreased by Rs4.42 billion.

Among scrips, WTL topped the volumes with 24.35 million shares, followed by TPLP (20.56 million) and BYCO (16.96 million). Stocks that contributed significantly to the volumes include WTL, TPLP, BYCO, UNITY, and TRG, which formed around 31 percent of total volumes.

The major sectors taking the index toward south were cement with 179 points, technology & communication with 63 points, engineering with 35 points, textile composite with 31 points and refinery with 25 points. The most points taken off the index were by LUCK which stripped the index of 73 points followed by TRG with 43 points, MLCF with 27 points, DGKC with 24 points and CHCC with 21 points.

The major sectors taking the index toward north were commercial banks with 211 points, fertilizer with 103 points, power generation & distribution with 29 points, tobacco with 20 points and paper & board with 7 points. The most points added to the index were by ENGRO which contributed 69 points followed by HBL with 65 points, UBL with 47 points, MEBL with 41 points and EFERT with 30 points.

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