KARACHI: Pakistan stocks ended down on Friday by 75 points in a mixed trading session observed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,085 points from previous day’s closing of 42,160 points, showing a decline of 75 points.
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Analysts at Arif Habib Limited said that a mixed session was witnessed at the PSX on Friday. Investors chose to stay at bay from Pakistan’s stock market during the opening session, causing the index to drop to 168 points after Moody’s Investor Service lowered Pakistan’s sovereign credit rating by one notch.
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However, after resuming the second session in the green zone investor opted for booking profits which resulted the index to close in the red zone.
The main board volumes remained respectable as a result of the Pak rupee’s (PKR) strengthening versus the US dollar over a period of sessions, with third-tier companies leading the volume board.
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Sectors contributing to the performance include E&P’s (-40.1 points), Technology (-32.4 points), Investment Banks (-18.6 points), Cement (-8.8 points) and Automobile Assemblers (-8.3 points).
Volumes decreased from 442.6 million shares to 313.3 million shares (-29.2 per cent DoD). The average traded value also decreased by -30.7 per cent to US$ 42.8 million as against US$ 61.8 million.
Stocks that contributed significantly to the volumes are WTL, TELE, TOMCL, LOTCHEM and KAPCO.
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