KARACHI: The stock market ended down by 80 points on Friday due to lackluster trading activity. The lackluster activity was because of market opened on the third day of Eid ul Adha.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,793 points. The market closed at 47,873 points on July 19, 2021.
The market was remained closed from July 20 – 22, 2021 because of Eid ul Adha.
Analysts at Topline Securities said that lackluster activity was observed at the exchange.
The index traded between its intraday high of 73 points and intraday low of 187 points. It finally closed at 47,793 level.
This lackluster activity can be attributed to higher than expected current account deficit.
The current account recorded at deficit of US$1.644 billion in June 2021. The lackluster activity was also due to lack of interest by investors amid third day of Eid ul Adha.
Major contribution to the index came from SNGP, SYS, HUBC, LUCK and FFC. These stocks cumulatively contributed 68 points to the index. On the other hand ENGRO, MLCF, PSO, TRG and PSX weighed down on the index by 50 points.
Today`s traded volume and value stood at 314 million shares and Rs.11 billion, respectively.
BYCO was today`s volume leader with 34 million shares (apart from NDM).