Business

Pakistan Stock Exchange closes week on negative note

Pakistan Stock Exchange (PSX) closed the week on a negative note, with the benchmark KSE-100 Index plunging 132 points to close at 43,363.
The benchmark index showed positive activity in the first few minutes of trading but could not sustain the momentum and adopted a negative trend for the most of the session.
The index hit a day’s high of 43,526 points pduring the second half of the day, whereas it hit a day’ low of 43,311 near the close of trading.
Volumes slipped slightly, as 193 million shares worth Rs6.7 billion changed hands compared to 220m shares worth Rs5.73b traded on the previous day. Of the 357 traded scrips, 128 advanced, 217 declined and 12 remained unchanged.Overall, the chemical sector dominated the trading activity with 32m shares traded, while the communication and electrical goods sectors followed with 27m and 21.65m shares changing hands, respectively.Volumes were led by:Pak Elektron: 16.42m shares traded [+1.70pc];
Lotte Chemical: 13.29m shares traded [-1.38pc];
Nimir Resins: 13.22m shares traded [-0.59pc];
WorldCall Telecom: 12.68m shares traded [+4.26pc];
Lalpir Power: 10.05m shares traded [+0.33pc].