November 23, 2022 (MLN): The benchmark KSE-100 Index closed in the negative zone on Wednesday, losing 48.32 points (0.11% DoD) to settle at 42,880.31 and making an intraday high of 43,040.58 and a low of 42,790.25 during the day.
While speaking to MG link news, Afroze Ali Merchant Chief Executive Officer of Merchant Investment Limited said, “The share market will remain volatile until the country’s political issues get resolved”.
In addition, rupee devaluation and economic instability play a catalyst role in a bearish market.
The top active stock in today’s trading session is World call telecom limited (WTL), with the highest volume of 16.47 million and the share price closed at Rs1.38, decreasing by 0.72%.
By the session’s end, the total volumes of the KSE-100 index stood at 56.57mn shares, down by 31.33% from 82.38mn shares traded on Wednesday.
Shares of 91 companies were traded on Friday, of which 54 recorded a fall, 36 registered an increase, whereas one remains unchanged.
In terms of sectors, most of the negative contributors were power gencos, commercial banks, and miscellaneous which negatively contributed 104.16 points. On the flip side, the technology closed the session positive, gaining 76.88 points by the day’s end.
Meanwhile, the volume leaders on the benchmark index were HUBC (12.46mn), TRG (6.64mn), KEL (3.44mn), BOP (3.80mn), and CNERGY (3.60mn).
The stocks that emerged as net losers during the day included: PSEL (5.29%), PAKT (3.33%), POML (3.00%), KOHC (1.72%), and HINOON (0.49%). On the other hand, the scrips which gained the most during the session included INDU (1.90%), SYS (2.86%), ARPL (1.39%), MARI (0.33%), and MUREB (1.28%).
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Posted on: 2022-11-23T17:23:28+05:00