KSE-100 Index Falls Nearly 2% Amid Volatile Trading
Pakistan’s benchmark KSE-100 index experienced a meaningful downturn on Friday, closing at 184,130.58 points – a decrease of 3,702.50 points, representing a 1.97% decline from its previous close of 187,832.08 points. The index navigated a volatile session,fluctuating between a high of 188,036.30 points and a low of 183,547.29 points.
Trading volume remained robust, with a total of 748.89 million shares changing hands, according to the Pakistan Stock Exchange (PSX) website. K-Electric Limited emerged as the most actively traded stock, with a volume of 517.82 million shares, witnessing a 7.58% increase to close at Rs. 8.94. This surge followed the announcement of the resignation of its Chief Executive Officer, Moonis Alvi.
National Bank of PakistanXD saw a substantial volume of 51.24 million shares traded, but experienced a decline of 8.01% to settle at Rs. 263.48. First National Equities Limited followed with 50.26 million shares traded, closing down 5.23% at Rs. 1.63.
Among the top advancing stocks, first Elite Capital Modaraba led the gains with a 10.02% increase to Rs. 22.50, while Hala Enterprises Limited and Arpak International Investments ltd. both rose by 10.02% and 10% respectively, closing at Rs.23.60 and Rs. 66.
Conversely, Chenab Limited (Pref) suffered the largest decline, falling 12.50% to Rs. 3.71. PICIC Insurance Limited and Janana De Malucho Textile Mills Limited also experienced significant losses, decreasing by 10.51% to Rs. 4.94 and 10% to Rs. 121.06,respectively.
The market’s performance reflects ongoing economic uncertainties and investor sentiment, with fluctuations influenced by corporate developments and broader macroeconomic factors.