On Friday, the stock market continued its losing streak from the previous day, closing lower due to a bleak economic outlook. Despite opening positively and achieving an intraday high of 229 points, investors decided to secure gains before the weekend by reducing their positions in the latter half of the day.
Market Dynamics and Notable Stocks
The KSE-100 index fell below the previous day’s low but stayed above the 48,000-point mark. Market anticipation builds for potential positive triggers over the weekend, which may push the index to exceed the 49,000-point level next week. As such, the KSE-100 index ended at 48,585.72 points, a decrease of 25.46 points or 0.05% from the previous session.
Overall trading volume fell by 37% to 331.1 million shares, and traded value decreased by 34.3% to Rs12.5 billion. Major contributors to the trading volume included Cnergyico PK Ltd, Oil and Gas Development Company Ltd, Pakistan Refinery Ltd, WorldCall Telecom Ltd, and Hascol Petroleum Ltd.
Fluctuating Share Prices
Companies with the largest share price increases were Unilever Pakistan Foods Ltd, Khyber Textile Mills Ltd, Nestle Pakistan Ltd, Blessed Textiles Ltd, and Exide Pakistan Ltd. Conversely, companies that faced the most significant declines were Al-Abbas Sugar Mills Ltd, Mari Petroleum Company Ltd, JDW Sugar Mills Ltd, Gadoon Textile Mills Ltd, and JS Global Capital Ltd.
Amid these dynamics, foreign investors were net buyers, purchasing shares worth $1.5 million.
