Range-bound session as KSE-100 ends 109 points down

Pakistan's stocks traded in a narrow range on the last day of the week with the benchmark KSE-100 Index settling 0.24% lower on Friday amid substantially low volumes.

The index touched an intra-day high 44,670.5, but failed to sustain the gains, eventually settling just below 44,500.

At close on Friday, the KSE-100 finished with a fall of 108.81 points or 0.24% to settle at 44,477.24. On a weekly basis, the KSE-100 Index declined by 0.95%.

On the economic front, as per the State Bank of Pakistan (SBP) latest data, remittances reached $2.7 billion during September 2021, increasing 16.9% on a yearly basis.

Moreover, cumulative inflow under the Roshan Digital Account (RDA) reached $2.411 billion in September. As per the central bank data, 248,723 accounts have been opened from 175 countries during the 13-month period.

KSE-100 ends 213 points higher after mid-day profit-taking

Sectors dragging the benchmark KSE-100 Index lower on Friday included cement (77.06 points), pharmaceutical (28.16 points), and power generation and distribution (25.49 points).

Volume on the all-share index decreased from 296.04 million on Thursday to 176.07 million on Friday. The value of shares trade also recorded a steep decline, amounting to Rs6.84 billion from Rs10.46 billion on Thursday.

WorldCall Telecom was the volume leader with 18.53 million shares, followed by Telecard Limited with 14.16 million shares, and Silk Bank Limited with 9.33 million shares.

Shares of 550 companies were traded on Friday, of which 165 registered an increase, 369 recorded a fall, while 16 remained unchanged.