AVN 65.52 Decreased By ▼ -1.18 (-1.77%)
BAFL 29.72 Increased By ▲ 0.22 (0.75%)
BOP 4.05 Decreased By ▼ -0.03 (-0.74%)
CNERGY 3.57 Decreased By ▼ -0.05 (-1.38%)
DFML 11.56 Decreased By ▼ -0.24 (-2.03%)
DGKC 42.03 Decreased By ▼ -1.17 (-2.71%)
EPCL 45.66 Decreased By ▼ -0.33 (-0.72%)
FCCL 11.60 Decreased By ▼ -0.25 (-2.11%)
FFL 5.78 Decreased By ▼ -0.10 (-1.7%)
FLYNG 5.94 Decreased By ▼ -0.13 (-2.14%)
GGL 10.88 Decreased By ▼ -0.37 (-3.29%)
HUBC 67.40 Decreased By ▼ -0.48 (-0.71%)
HUMNL 5.59 Decreased By ▼ -0.05 (-0.89%)
KAPCO 24.38 Decreased By ▼ -0.47 (-1.89%)
KEL 2.11 Decreased By ▼ -0.02 (-0.94%)
LOTCHEM 24.92 Decreased By ▼ -0.08 (-0.32%)
MLCF 24.58 Decreased By ▼ -0.29 (-1.17%)
NETSOL 74.12 Decreased By ▼ -2.08 (-2.73%)
OGDC 84.67 Decreased By ▼ -1.19 (-1.39%)
PAEL 10.61 Decreased By ▼ -0.44 (-3.98%)
PIBTL 3.91 Decreased By ▼ -0.07 (-1.76%)
PPL 64.81 Decreased By ▼ -1.19 (-1.8%)
PRL 12.74 Decreased By ▼ -0.21 (-1.62%)
SILK 0.87 Decreased By ▼ -0.01 (-1.14%)
SNGP 39.41 Decreased By ▼ -1.34 (-3.29%)
TELE 7.06 Decreased By ▼ -0.42 (-5.61%)
TPLP 14.70 Decreased By ▼ -0.39 (-2.58%)
TRG 107.60 Decreased By ▼ -2.85 (-2.58%)
UNITY 13.37 Decreased By ▼ -0.14 (-1.04%)
WTL 1.20 Decreased By ▼ -0.01 (-0.83%)
BR100 4,040 Decreased By -40.6 (-0.99%)
BR30 14,413 Decreased By -217.8 (-1.49%)
KSE100 39,942 Decreased By -434.1 (-1.08%)
KSE30 14,739 Decreased By -177.2 (-1.19%)

KSE-100 falls 0.97% owing to economic uncertainty

  • Investor participation drops due to weak sentiment
Published January 27, 2023
Follow us

The Pakistan Stock Exchange (PSX) saw a pessimistic session on Friday as the KSE-100 Index dropped nearly 1% owing to weak investor sentiment.

Weakening macroeconomic cues and persistent political uncertainty kept investor participation low.

KSE-100 increases over 1,000 points as Pakistan moves to revive IMF programme

At the end of trading on Friday, the KSE-100 Index closed with a loss of 396 points or 0.97% at 40,450.53.

Trading began with a spike but weak investor spirits dragged the market lower in the first session. The selling pressure accelerated in the second session to widen the losses.

Automobile, cement, chemical and banking saw massive sell-off while oil stocks rallied.

A report from Capital Stake stated that “failing to sustain the gains made during the day, the PSX ended the session on Friday in red.”

Indices slipped lower and lower for most of the day while volumes declined from the last close.

“The depreciation of the rupee against the US dollar, depletion of foreign exchange reserves, and delay in agreement with the IMF were some of the major factors which dented investors’ confidence,” it said.

A report from Arif Habib Limited stated that the PSX concluded the week on a mixed note.

“The market opened in the red zone and traded in the same zone with sluggish activity throughout the first trading owing to the rupee dollar parity and political instability,” it said.

“However, after the second session resumed the bears took charge the index plunged down 440.97 points as investors opted to square-up their positions due to the rollover week.”

As per AHL, volumes remained healthy as investors are optimistic about the upcoming International Monetary Fund (IMF) visit for the 9th review of the Extended Fund Facility from the programme.

On the economic front, IMF said that its mission will visit Islamabad at the end of this month to continue discussions under the ninth Extended Fund Facility (EFF) review.

Secondly, Pakistan’s rupee continued to witness significant depreciation against the US dollar in the inter-bank market as it fell Rs7.17 or 2.73% on Friday to close at 262.6.

Sectors driving the benchmark KSE-100 index lower included cement (75.20 points), technology and communication (75.15 points), and the fertiliser (71.34 points).

Volume on the all-share index nearly halved to 191.3 million from 364.1 million on Thursday. The value of shares plummeted to Rs7.1 billion from Rs14.8 billion recorded in the previous session.

Pak Refinery was the volume leader with 14.2 million shares, followed by Cnergyico PK with 13.2 million shares and Fauji Foods with 12.5 million shares.

Shares of 333 companies were traded on Friday, of which 76 registered an increase, 238 recorded a fall and 19 remained unchanged.


Comments are closed.

Aun Ali Jan 27, 2023 08:30pm
making fool...why yesterday stock market was up by around 1,000...yesterday Pakistan's economy was stable...?
thumb_up Recommended (0)

KSE-100 falls 0.97% owing to economic uncertainty

Hamstrung by forex constraints, govt may not be able to purchase 3 more LNG spot cargoes

CPEC IPPs: EPTL threatens to shut down plant

CPEC IPPs: CPPA-G asked to stop capacity payment cuts

Economic impasse is rooted in PTI govt’s policies: PM

Umar says ‘next week to be turning point’

Four key projects: ADB sends mission to ascertain complaints’ eligibility

PM censures President’s letter

Wheat flour distribution points: PM visits Multan, other parts of southern Punjab

SECP decides to amend VPS rules

China opens ties with Honduras