Banks, E&Ps lead decline as KSE-100 ends week in red
\n Islamabad
\nThe Pakistan Stock Exchange (PSX) ended the week on a bearish note, with the benchmark KSE-100 Index sliding 1,701 points, or 1.09%, to close at 154,440 on Friday.
\nThe session began on a positive footing, but momentum faded quickly as profit-taking set in, pushing the index below the key 155,000 level.
\nHeavy selling in index-heavy sectors\u2014banks, fertilisers, power, cement, and exploration and production\u2014exerted downward pressure. UBL, FFC, ENGROH, HUBC, LUCK, and OGDC collectively knocked off 970 points from the benchmark, according to Ali Najib, Deputy Head of Trading at Arif Habib Ltd. Trading activity moderated, with volumes declining to 984.9 million shares, valued at Rs39.8 billion. FNEL led the chart with 61.9 million shares changing hands.
\nDespite Friday\u2019s slump, the KSE-100 managed to finish the week marginally positive, adding 163 points, or 0.11%. The index opened the week at 155,057, touched a record high of 157,817, and dipped to 154,360 before closing at 154,440. Analysts expect volatility to persist in the coming sessions, as investors continue booking profits. However, the 154,000 level is seen as a strong support zone, providing some stability to the market.<\/p>\n","protected":false},"excerpt":{"rendered":"
Banks, E&Ps lead decline as KSE-100 ends week in red Islamabad The Pakistan Stock Exchange (PSX) ended the week on a bearish note, with the benchmark KSE-100 Index sliding 1,701 points, or 1.09%, to close at 154,440 on Friday. The session began on a positive footing, but momentum faded quickly as profit-taking set in, pushing […]<\/p>\n","protected":false},"author":2,"featured_media":363666,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-502544","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n