KSE-100 closes week shedding 329 points

KARACHI: The Pakistan Stock Exchange (PSX) concluded Friday’s session with minimal change after a turbulent day influenced by political developments.

The benchmark KSE-100 Index experienced significant fluctuations, trading within a wide range of 1,710.00 points. It recorded an intraday high of 80,321.68 points, gaining 329.33 points, and a low of 78,611.68 points, losing 1,380.67 points.

In the morning session, the index faced selling pressure, declining by 0.5 per cent by noon. This drop was exacerbated by political news during the mid-day break when the Supreme Court ruled Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) eligible for reserved seats for women and minorities.

Upon reopening after the break, the index plunged by as much as 1.8 per cent, but managed to recover most of the losses, ending the day just 0.06 per cent lower at 79,944.09 points.

The total trading volume for the KSE-100 Index was 217.96 million shares.

Out of the 100 companies in the index, 38 closed higher, 59 lower, and 3 remained unchanged. Sectors that weighed down the index included Power Generation & Distribution (-110.95 points), Oil & Gas Exploration Companies (-48.80 points), Oil & Gas Marketing Companies (-31.26 points), Refinery (-11.93 points), and Technology & Communication (-11.53 points).

Conversely, the index received support from Commercial Banks (+101.65 points), Fertilizer (+55.68 points), Leather & Tanneries (+21.59 points), Paper & Board (+15.88 points), and Food & Personal Care Products (+12.55 points).

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