Market watch: KSE-100 decreases 462 points as correction continues

KARACHI: The KSE-100 Index continued its fall for the second successive session as correction along with profit-taking dragged stocks in the red on the last day of the week.

The KSE-100 Index started in the red and continued its gradual fall throughout the day to end a few points below the 43,000 level. At one point, the index suffered over a 630-point fall in intra-day trading before investors opted to buy at the day’s lows.

Announcements by Tahirul Qadri and Pakistan Tehreek-e-Insaaf of protests against the government were also received negatively, giving an excuse to investors to book profits and await clarity.

At close on Friday, the KSE-100 Index ended with a decrease of 461.56 points or 1.06% to finish at 42,933.72 points.

Market watch: Profit-taking drags KSE-100 below 43,500

Overall, trading volume decreased to 239 million shares, compared with Thursday’s tally of 319 million.

Shares of 368 companies were traded. At the end of the day, 80 stocks closed higher, 276 declined while 12 remained unchanged. The value of shares traded during the day was Rs10.3 billion.

TRG Pakistan was the volume leader with 26 million shares, losing Rs1.03 to close at Rs32.89. It was followed by WorldCall Telecom with 15.2 million shares, losing Rs0.10 to close at Rs2.80 and Azgard Nine with 14.1 million shares, losing Rs0.87 to close at Rs13.65.

Benchmark index rises 1.91% to close at 43,630.74

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