Pakistan Stock Exchange (PSX) KSE-100 index lost 46 points or -0.09pc to end Friday’s trading session at 48,971.05. Trading at the benchmark index largely remained dull as it traded between an intraday high of +122 points and a low of -89 points.
Volume leaders for the day were: K-Electric Ltd with 42.4m shares traded (+3.45pc), Bank of Punjab with 35.7m shares traded (+5.67pc), and Aisha Steel Mills with 28.8m shares traded (+4.97pc).
“K-Electric is talk of the town since National Electric Power Regulatory Authority’s (NEPRA) tariff determination pushed the stock to its lowest intraday level (Rs 8.16) since August 2016,” says Adnan Sami Sheikh, Equity Research Analyst at Topline Securities Ltd, adding that the average volume traded increased to 35m shares compared to an average volume of 20m shares traded over the last four weeks.
A mixed rally was seen in the banking sector, with Habib Bank Limited (+0.63pc) and National Bank of Pakistan (+0.16pc) closing in the green, while MCB Bank Limited (-1.44pc) and United Bank Limited (-0.35pc) closed in the red.
“Market may succumb to pressure next week due to the commencement of deliverable futures roll-over week. Also, the pending decision of the Panamagate case is still on investors’ minds,” says Sheikh.
A total of 124.5m shares were traded worth almost Rs 7b. Stocks of 372 companies changed hands on the PSX, of which 196 gained in value, 165 declined and 11 remained unchanged.
