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KSE-100 ends week on a negative note

KSE-100 ends week on a negative note

The benchmark KSE-100 Index ended the final day of the week on a negative note, registering a fall of 0.28%, while volumes and value declined from the previous session on Friday.

During the day, the index hit an intraday high of 43,606.41, recording an upward movement of 87.57 points but dropped to a low of 43,044.99 down by 473.85 points.

At close on Friday, the index settled lower by 123.05 points or 0.28% at 43,395.78. The benchmark KSE 100 index gained 0.38% on a WoW basis.

Meanwhile, the market eagerly awaits the State Bank of Pakistan (SBP) Monetary Policy Committee (MPC), which is scheduled to meet on 14th December.

On the economic front, the Sensitive Price Index (SPI) for the week ended 09-Dec-21 recorded an increase of 18.58% YoY, however, down 0.07% WoW – registering a third consecutive WoW decline.

Meanwhile, Pakistan’s foreign exchange reserves have witnessed significant gains last week, amid multi-billion-dollar deposits received from Saudi Arabia.

On the corporate front, The Resource Group International Limited (TRGI) informed TRG Pakistan Ltd. that its board has approved the allocation of its liquid assets to its shareholders.

Bears dominate bourse, KSE 100 drops 328 points

Sectors dragging the benchmark index lower included oil and gas exploration (33.05 points), technology and communication (32.21 points), and banking (28.62 points).

Volume decreased clocking in at 179.17 million on the all-shares index, down from 200.5 million a day ago. The value of shares traded also declined to a Rs6.73billion on Friday.

TRG Pakistan Limited was the volume leader with 14.62 million shares, followed by Treet Corp with 14.24 million shares, and WorldCall Telecom at 13.62 million shares.

Shares of 324 companies were traded on Friday, of which 123 registered an increase, 183 recorded a fall, and 18 remained unchanged.

Source: Business Recorder

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