Dollar sheds 43 paisas, KSE-100 Index down by 116 points
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Despite a bright start, the Pakistan Stock Exchange ended the Friday session with a loss of 116.68 points as the KSE-100 Index closed at 42,530.67.
On the other hand, the rupee performed well against the US dollar which shed 43 paisas and was available for Rs165.97 in inter-bank exchange rate.
At one point, the KSE-100 Index managed to gain over 220 points and reached the level of 42,869.69. However, it ended the in red zone after going as low as 42,457.53.
The latest losses came after the share market made impressive gains on Thursday as the KSE-100 Index was up by over 600 points while closing at 42,647.35.
It was mainly due to the performance shown by the sectors like investment banks and companies/ security companies on which the market rode for these gains.
Meanwhile, the oil and gas exploration as well as the market companies too were among the top performers. Similarly, most of the commercial banks and insurance companies made significant gains.
On Friday, sectors like cement and engineering were the biggest losers while the oil and gas companies and the financial institutions too couldn’t repeat the previous day’s showing.
As far as the volume is concerned, a total of 309,496,334 shares were traded which represented a reduction of around 40 percent over Thursday’s session.
Meanwhile, Hascol Petroleum Limited regained the slot of most active stock with the trading of 60,939,500 shares. It was followed by Byco Petroleum Pakistan Limited and Pakistan International Bulk Terminal Limited with 54,641,000 and 25,754,500 shares respectively.
Among the biggest decliners, the three worst performers and the cut in their share prices were: First Elite Capital Modaraba 13.44 percent, Drekkar Kingsway Limited 10.11 percent and HBL Investment Fund 9.80 percent.
However, JA Textile Mills Limited saw its share price going up by 17.63 percent followed by Jubilee Spinning and Weaving Mills Limited 17.21 percent and Mian Textile Industries Limited 11.52 percent.