KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 445 points of Friday on weekend profit taking.
The index closed at 40,887 points as against 41,333 points showing a decline of 445 points.
Analysts at Arif Habib Limited said that KSE-100 index fell again by a wide margin causing concern among investors if they have already seen the top and the index will not sustain 40,000.
Market got choppy by session’s end and investors did not consider holding positions for the weekend.
EFERT’s result failed to impress investors, and despite phenomenal results the stock got heavy bantering.
Major volumes were observed in KEL, PIBTL, PAEL and EFERT, but these scrips ended the session in red, with the exception of PIBTL (+2.4 percent).
Sector wise activity was mainly observed in Power, Cement and Chemical Sectors, whereas Banking sector apparently lost investors’ interest.
Sectors contributing to the performance include Banks (-132 points), E&P (-89 points), Power (-43 points), Fertilizer (-41 points), O&GMCs (-31 points).
Volumes increased from 138mn shares to 169 million shares (+22 percent DoD).
Average traded value also increased by 41 percent to reach US$61.7 million as against US$43.8 million.
Stocks that contributed significantly to the volumes include KEL, PIBTL, PAEL, EFERT and MLCF, which formed 37 percent of total volumes.
Stocks that contributed positively include FFC (+20 points), PIBTL (+6 points), SCBPL (+3 points), AICL (+2 points), and DGKC (+2 points).
Stocks that contributed negatively include HBL (-47 points), HUBC (-33 points), OGDC (-31 points), ENGRO (-28 points) and POL (-26 points).
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