KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) declined by 28 points on Friday in mixed trading. The Index closed at 44,872 points as against the previous day’s closing of 44,900 points, showing a decline of 28 points.
Analysts at Arif Habib Limited said that the market traded in a narrow range today with an oscillation of 404 points between +104 points and -300 points.
Steel, Refinery, Power and O&GMCs largely remained positive, whereas selling pressure was witnessed in Cement, Banks, E&P and Technology sectors.
PKR slipped further in the open market to cross 173 and the interbank market remained under pressure and above 170, remaining a cause of concern for foreign investors, who have been sustaining losses on old positions in E&P and Banks.
Among scrips, TPL led the volumes with 15.3 million shares, followed by BYCO (14.2 million) and HASCOL (14.1 million).
Sectors contributing to the performance include Cement (-51 points), E&P (-29 points), Power (-17 points), Chemical (+27 points), Engineering (+22 points) and Pharma (+18 points).
Volumes declined from 372.4 million shares to 267.1 million shares (-28 per cent DoD). Average traded value also dipped by 34 per cent to reach US$ 52.9 million as against US$ 80.7 million.
Stocks that contributed significantly to the volumes include TPL, BYCO, HASCOL, ASL and WTL, which formed 26 per cent of total volumes.
Stocks that contributed positively to the index include SNGP (+17 points), COLG (+16 points), HBL (+13 points), AVN (+11 points) and EPCL (+10 points). Stocks that contributed negatively include LUCK (-28 points), KEL (-25 points), MCB (-18 points), TRG (-17 points) and GHGL (-17 points).
