The Pakistan Stock Exchange (PSX) retreated further, closing the week in red with losses. Investors have been busy remodelling their portfolios ever since the index’s upgradation from the previous MSCI Frontier Market status to MSCI Emerging Market Index. Foreign investors have been the net sellers worth $12.41 million, while domestic insurance companies were the top buyers of $12.83 million over the four sessions during the week.
The KSE 100 index swung on both sides, dropped to a mid-day low of 50,666.13 with the loss of 290.47 points and jumped higher by 240.67 points to 51,197.27. It landed with 209.98 points loss at 50,746.62. The KMI 30 index depreciated by 344.37 points, while the KSE All Share index, down by a minor 20.43 points only, closed with little change. The advancer to decliner ratio stood at 252 to 142.
The market volumes improved by 345.04 million from the previous 302.13 million. Trading remained dull just like the previous session. A total of 76.38 million shares were traded on the bourse today. The volumes were led by the following:
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Silk Bank Ltd: 24.3m shares traded (+2.14pc);
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Summit Bank: 21.5m shares traded (+4.57pc);
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Kohinoor Spining: 16.24m shares traded (+11.76pc);
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Dewan Salman: 13.68m shares traded (+7.16pc); and,
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WorldCall Telecom: 11.42m shares traded (+2.07pc)
Fauji Fertiliser Bin Qasim Limited (FFBL -0.52pc) also informed the exchange that FFBL Power Company Limited, a subsidiary of FFBL, has commenced its commercial operations.
