PSX closing: KSE-100 ends week in red

WEB DESK: The Pakistan Stock Exchange (PSX) wrapped up the week on a downward trend, with the benchmark KSE-100 index shedding nearly 250 points on Friday.

Investors grappled with uncertainty ahead of the upcoming decision on the policy rate.

The Monetary Policy Committee (MPC) of the central bank is slated to convene on Monday (March 18) to deliberate on the key interest rate, which presently stands at a record high of 22 per cent.

Throughout the trading session, market indicators pointed downwards, with both trading volume and value of shares declining incrementally.

By the close of trading, the index settled at 64,816.46, marking a decrease of 247.80 points or 0.38 per cent.

On a weekly basis, the benchmark index closed lower by 977.29 points compared to the previous week’s figure of 65,793.76.

Thursday saw a reversal in fortunes for the PSX, as the KSE-100 rallied on value-seeking behavior among investors, propelling the benchmark index past the 65,000 mark to conclude with a gain of 1,015.82 points or 1.59 per cent.

Trading activity saw a decline on the all-share index, with volume dropping to 259.37 million shares from 315.24 million in the previous session.

Similarly, the value of shares traded decreased to Rs10.12 billion from Rs10.48 billion.

Notable volume leaders included Hascol Petroleum with 56.95 million shares, followed by Cnergyico PK with 19.64 million shares, and WorldCall Telecom with 16.55 million shares.

A total of 322 companies participated in trading, with 113 registering gains, 192 recording losses, and 17 remaining unchanged.

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