KARACHI: Pakistan stocks remained traded in negative zone on Friday owing to ongoing political chaos.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,730 points from previous day’s closing of 42,819 points, showing a decline of 89 points.
Analysts at Arif Habib Limited said that the negative session was witnessed at the PSX during the day.
The market opened in the negative zone and continued to trade in the same range as a lackluster opening session concluded.
Investors’ participation in the market remained low due to the ongoing political chaos. The second session began with the same momentum and remained negative until the closing bell.
The mainboard’s volumes remained decent, as third-tier companies continued to dominate the volume board.
Sectors contributing to the performance include Commercial Banks (-27.4 points), Technology & Communication (-24.3 points), E&P’s (-22.4 points), Textile Composite (-12.0 points), Vanaspati & Allied Industries (-8.2 points).
Volumes increased from 181.2 million shares to 189.3 million shares (+4.4 per cent DoD). The average traded value decreased by 18 per cent to $22.7 million as against $27.6 million.
Stocks that contributed significantly to the volumes are UNITY, WTL, HASCOL, GCIL and FCCL.