KARACHI: The Pakistan Stock Exchange (PSX) closed almost flat on Friday after political turmoil following the verdict announced by accountability court against Nawaz Sharif in Avenfield reference case.
The benchmark KSE-100 index closed 45 points above yesterday’s close at 40,284, after losing over 200 points within the first half hour of trading to hit the day’s low of 40,029 and peaking at 40,436 points near the session’s close. Shares of 320 companies were traded. At the end of the day, 170 stocks closed higher, 123 declined while 27 remained unchanged.
Trading, however, remained dull as only 103.9 million shares worth Rs3.3 billion were traded. Of the 300 scrips traded today, 154 advanced, 121 declined and 25 remained unchanged.
The cement sector closed in the green zone where big players such as FCCL (+0.18%), DGKC (+0.33%), MLCF (+0.13%) and PIOC (+1.13%) were major movers. Limited participation was witnessed in the banking space where UBL (+0.17%), MEBL (+0.61%), BAFL (+0.31%) and BAHL (+0.09%) closed in the green zone.
Foreign institutional investors were net sellers of Rs68.6 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan.
K-Electric was the volume leader with 40.5 million shares, losing Rs0.09 to close at Rs5.58. It was followed by Pak International Bulk Terminal (R) with 4.6 million shares, gaining Rs0.02 to close at Rs0.99 and TRG Pak Ltd with 3.3 million shares, gaining Rs0.37 to close at Rs27.52.