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151 points were lost by Pakistani stocks in range-bound trading

KARACHI: Friday’s range-bound trading activities resulted in a 151 point decline for Pakistani stocks.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 42,309 points, down 151 points from the previous day’s closing of 42,460 points.

Topline Securities analysts noted that the exchange experienced a range-bound session as the index fluctuated between its intraday high of 109 points and intraday low of -151 points.

FABL, COLG, KOHC, CEPB, and EFERT made a significant contribution to the index by collectively adding 49 points, while PPL, FFC, THALL, POL, and DAWH lost value and weighed the index down by 75 points.

Traded volume and value declined on DoD basis by 35 per cent and 42 per cent to 151 million shares and Rs4.63bn respectively. WTL was today`s volume leader with 11.9 million shares.

KSE 100 Index declined by -0.66 per cent on WoW basis which can largely be attributed to floods across Pakistan where initial estimate of economic loss as per government is close Rs2 trillion (2 per cent of GDP).

Apart from it Consumer Price Index (CPI) number for August clocked in at 27.3 per cent YoY (one of the highest number in last few decade), also weighed down on investor sentiment.

Investor participation declined during the outgoing week as average daily traded volume and value stood at 211 million shares (down 15.6 per cent WoW) and Rs6.9 billion (down 14.8 per cent WoW) respectively.

On flows end individuals, banks, mutual funds and companies net purchased equities worth US$1.95 million, US$1.69 million, US$1.41 million and US$1.26 million respectively as of yesterday`s close, whereas insurance and foreign corporate net sold equities worth US$6.63 million and US$1.76 million respectively as of yesterday`s close.

Abdul Qadeer

My Name is Abdul Qadeer. And CEO Pakistanwap ( JamilBaba ) 😊

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