KSE-100 Index closes week by shedding 223 points

By: News Desk      Published: 05:42 PM, 27 Nov, 2020
KSE-100 Index closes week by shedding 223 points

A late tumble during the last 40 minutes of trading meant that the Pakistan Stock Exchange closed the week on Friday with a loss of 223.94 points for the KSE-100 Index.

However, the market had already started the day on a negative after the significant gains made in the previous three sessions with the index closing at 40,807.09.

During the week, the KSE-100 Index made a net gain of 690.70 points after three profitable sessions and two of suffering losses.

The latest performance came after the market moved upwards from Tuesday to Thursday with a surge of nearly 1,400 points. Before this rally, it had shed over 900 points in the previous two sessions, reflecting the unstable nature of the market.

A total of 396,946,839 shares were on Friday which represented a slight increase over the previous day.

With 364 companies available for trading, the share prices of 184 entities were up and 161 down with no change in the value of 19.

Sustaining the trend witnessed in recent months, Unity Foods remained among the most active stocks and it topped the list for the second consecutive day n with the trading of 53,464,500 shares. 

Similarly, TRG Pakistan again occupied the second spot for the third day with 45,955,000 shares. It was followed by the 23,109,000 shares of K-Electric as Maple Leaf Cement slid to the fourth position.

On the other hand, Trust Modaraba, Capital Trust Leasing Corporation and Samin Textiles were the best performers as these companies made a gain of 24 percent, 21.83 percent and 16.06 percent in their share prices respectively. 

Meanwhile, First National Bank Modaraba was the worst performer in the market after shedding 32.22 percent of its share price. This decline is very noticeable as the loss for BIPL Securities – the second on the list – was 8.40 percent followed by 7.75 percent in the case of Arshad Energy.