KARACHI: Pakistan stocks fell on Friday due to uncertainty after an attack on former Prime Minister Imran Khan a day earlier.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,856 points from previous day’s closing of 42,092 points, showing a decline of 234 points.
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Analysts at Arif Habib Limited said that a negative session was observed at the stock market during the day.
Due to the ongoing political uneasiness, the market tanked as soon as the bell rang and kept losing ground during both sessions, which caused investors to shy away from the equity market, drying up volumes across the board while third-tier equities continued to garner attention.
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Sectors contributing to the performance include Technology & Communication (-55.4 points), Cement (-55.8 points), Commercial Banks (-22.3 points), E&P’s (-23.7 points) and Pharmaceuticals (-25.3 points).
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Volumes decreased from 325.7 million shares to 298.1 million shares (-8.5 per cent DoD). The average traded value also decreased by -24.2 per cent to USD 24.6 million as against USD 32.4 million.
Stocks that contributed significantly to the volumes are HASCOL, WTL, SSGC, DCL and CNERGY.
