The Pakistan Stock Exchange (PSX) witnessed profit-taking on Friday, resulting in a decline in the benchmark KSE-100 Index, which closed at 145,382.79, down by 264.34 points or 0.18%.
The market showed positive momentum in the early hours, with the KSE-100 Index reaching an intra-day high of 146,813.43 (+1,166.30). However, this was followed by a pullback as profit-taking set in, pushing the index to an intra-day low of 144,917.18 (-729.95).
In terms of sector performance, the Cement sector faced the biggest setback, contributing -152.71 points, followed by Technology & Communication (-66.58 points) and Oil & Gas Marketing Companies (-59.90 points). On the positive side, sectors such as Investment Banks, Securities Companies, and Engineering added to the index.
The day saw a total of 276.74 million shares traded, with a decline in traded value to Rs45.49 billion, a decrease of Rs10.19bn from the previous session.
Of the 100 index companies, 38 closed in the green while 62 closed in the red. The top gainers were BNWM (+9.99%), AGL (+6.74%), and PSX (+5.81%), while the biggest losers included KTML (-5.16%) and GADT (-4.64%).
The broader market also saw a slight dip, with the All-Share Index losing 81.75 points, closing at 89,824.60.
Despite the decline, the overall outlook for the market remains optimistic, with strong buying momentum observed earlier in the session. The market had also reached a record high on Thursday, with the KSE-100 Index closing at 145,647.14, up by 0.39%.
