The KSE-100 938 index closed on Friday, as it settled at 112,800.93 with a decrease of 0.82 %, as attracting profits and weaknesses in the sector decreased. The index fluctuated within the range of 1,630 points, as it reached the highest level during the day 114444 before the decline.
KSE-100 has witnessed mixed feelings throughout the week, reflecting the invested caution amid profit reports, economic policy discussions, and global market trends. Despite the strong gains from year to date, the market remained volatile, as the sectors of banking services, cement and oil are exposed.
Banking stocks led a decrease, ranging 326 points, followed by cement (-186 points) and exploration of oil and gas (-154 points).
The best losers included Cherat (-7.45 %), ABBOTT (-7.21 %) laboratories, and pioneering cement (-5.35 %). The winners were led by Standard Charterd (+7.53 %), Tariq glass (+3.86 %), and Cohenor’s textile (+3.54 %).
The broader index also decreased by 351 points (-0.50 %), while the total market volume decreased to 455 million shares, a decrease from 787 million shares in the previous session.
Despite the recent decline, analysts expect the market morale to remain linked to the results of companies, economic policies and global signals in the upcoming sessions.
