KSE-100 suffers fourth successive decline, loses 227 points

The KSE-100 Index suffered its fourth successive fall on Friday, bringing the total retreat since Monday to a cumulative 976 points as rupee depreciation, uncertainty over the geopolitical situation, and lack of positive triggers marking the 2.03% fall across four sessions.

At close on Friday, the KSE-100 ended 226.74 points or 0.48% lower to settle at 47,136.53. Investors were especially worried after the Kabul airport blasts on Thursday evening, fearing that the worsening security situation in Afghanistan could have a spillover effect in Pakistan.

The index last ended positive on Monday when it gained 512.39 points or 1.08% to end at 48,112.21, above the 48,000 mark for the first time since July 08, 2021.

However, since then, it has been a rather bumpy ride with investors first opting to book profits, and then deciding to stay on the sidelines with the rollover week also taking its toll on sentiment.

The earnings announcements have also failed to spark an interest, said Capital Stake.

Sectors dragging the benchmark KSE-100 index lower on Friday included banking (62.87 points), fertiliser (29.07 points) and textile composite (27.40 points).

KSE-100 falls another 273 points as pressure persists

Volume on the all-share index inched up from 360.81 million on Thursday to 382.37 million on Friday. The value of shares traded during the session increased to Rs13.29 billion, from Rs11.74 billion on Thursday.

WorldCall Telecom remained the volume leader with 31.63 million shares, followed by K-Electric Limited with 26.43 million shares, and Byco Petroleum at 20.08 million shares.

Shares of 469 companies were traded on Friday, of which 128 registered an increase, 324 recorded a fall, while 17 remained unchanged.