KARACHI: Pakistan stocks ended down by 151 points on Friday in range bound trading activities during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,309 points from last day’s closing of 42,460 points, showing a decline of 151 points.
READ MORE: Pakistan stocks end in green as SBP gets IMF tranche
Analysts at Topline Securities said that range bound session was observed at the exchange as index traded between its intraday high of 109 points and intraday low of -151 points.
Major contribution to the index came from FABL, COLG, KOHC, CEPB & EFERT as they cumulatively contributed 49 points to the index, whereas on the flipside PPL, FFC, THALL, POL & DAWH lost value to weigh down on the index by 75 points.
Traded volume and value declined on DoD basis by 35 per cent and 42 per cent to 151 million shares and Rs4.63bn respectively. WTL was today`s volume leader with 11.9 million shares.
READ MORE: Stocks end up 156 points amid political noise
KSE 100 Index declined by -0.66 per cent on WoW basis which can largely be attributed to floods across Pakistan where initial estimate of economic loss as per government is close Rs2 trillion (2 per cent of GDP).
Apart from it Consumer Price Index (CPI) number for August clocked in at 27.3 per cent YoY (one of the highest number in last few decade), also weighed down on investor sentiment.
READ MORE: Pakistan stocks plunge despite IMF program revival
Investor participation declined during the outgoing week as average daily traded volume and value stood at 211 million shares (down 15.6 per cent WoW) and Rs6.9 billion (down 14.8 per cent WoW) respectively.
On flows end individuals, banks, mutual funds and companies net purchased equities worth US$1.95 million, US$1.69 million, US$1.41 million and US$1.26 million respectively as of yesterday`s close, whereas insurance and foreign corporate net sold equities worth US$6.63 million and US$1.76 million respectively as of yesterday`s close.
