Pakistan’s benchmark KSE-100 index fell 555.27 points, or 0.36 per cent, to close in the red on Friday, extending the market’s recent volatility.
Shortly after opening around 9:20am, the index climbed to an intraday high of 155,002.10 points before sliding to an intraday low of 152,780.79 points by 11am.
Trading activity remained on the lower end, with 113,043,219 shares changing hands, while the traded value reached Rs11,734,798,583.
Among the most actively traded stocks, Dost Steels Limited led the volumes, rising 3.64pc to Rs5.70 on 27,793,436 shares. It was followed by Hascol Petroleum Limited, which gained 3.04pc to Rs17.99 on 25,429,776 shares, and The Bank of Punjab, which fell 1.66pc to Rs27.26 on a volume of 16,327,842 shares.
The top negative contributions to the index came from ENGROH, FFC, LUCK, HUBC, and MEBL, contributing -649 points to the index, according to Topline Securities.
The market’s cautious tone comes as global oil prices climbed back above $100 a barrel, while equities came under pressure after Iranian attempts to target energy supplies in the Middle East overshadowed a record release of strategic crude reserves by the International Energy Agency (IEA).
Topline Securities noted that the pressure in the market can be attributed to investors’ fears of any negative development over the weekend, resulting from ongoing tensions in the Middle East.
The KSE-100 had already closed lower on Thursday, shedding 1,437.04 points, or 0.92pc, following a highly volatile session. Similar swings were seen on Wednesday, when the index ultimately slipped 318.65 points, or 0.2pc, despite gaining nearly 2,000 points during intraday trading.
