Stocks end down by 243 points on political unrest

Stocks end down by 243 points on political unrest

KARACHI: The stocks fell by 243 points on Friday owing to protests by political parties against mounting inflation.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 45,578 points as compared with the previous close of 45,821 points.

Analysts at Topline Securities said that the KSE 100 index opened on a positive note and gain to make an intraday high of 217 points, however it failed to sustain its momentum on account of protest by right wing religious party and opposition party alliance (Pakistan Democratic Movement) across Pakistan.

A major contributions to the index came from HBL, UBL, AICL, CHCC and THALL, as they cumulatively contributed 104 points to the index. On the flip side TRG, ENGRO, PPL, PSO, and OGDC, as cumulatively contributed 167 points to the index.

Traded volume and value for the day stood at 301 million shares and Rs11.8 billion. HUMNL was today`s volume leader with 36 million shares.

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