The Pakistan Stock Exchange (PSX) ended the week on a negative, owing mostly to a sharp plunge following unconfirmed reports of Pakistan being placed on the grey-list by the Financial Action Task Force (FATF), with the benchmark KSE-100 index losing 261 points.

The index, which had made marginal gains of 101 points by the end of the first half, nose-dived in the first few minutes of trading in the second session, losing over 500 points by 3:45pm. However, a late recovery meant the index closed at 43,267 points.

Of the total of 355 traded scrips, 103 advanced, 227 declined and 25 remained unchanged. In all, 244 million shares worth Rs10.1 billion were traded on the exchange.

The engineering sector dominated trading with 18.4m shares traded, followed by chemical and tech sector at 14.8m and 11.3m shares traded.

Pakistani officials and Western diplomats say being put on the FATF watchlist could deal a blow to Pakistan’s economy, making it harder for foreign investors and companies to do business in the country.

However, an official statement on the decision has not yet been issued.

Volumes were led by:

  1. Dost Steels Ltd: 27.5m shares traded [-1.56pc];

  2. Azgard Nine: 15.6m shares traded [0.23pc];

  3. TRG Pak Ltd: 14.7m shares traded [-3.42pc];

  4. Lotte Chemical: 11.9m shares traded [-3.44pc];

  5. B.O.Punjab: 11.0m shares traded [-2.24pc].

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Afghan turbulence
Updated 19 Mar, 2024

Afghan turbulence

RELATIONS between the newly formed government and Afghanistan’s de facto Taliban rulers have begun on an...
In disarray
19 Mar, 2024

In disarray

IT is clear that there is some bad blood within the PTI’s ranks. Ever since the PTI lost a key battle over ...
Festering wound
19 Mar, 2024

Festering wound

PROTESTS unfolded once more in Gwadar, this time against the alleged enforced disappearances of two young men, who...
Defining extremism
Updated 18 Mar, 2024

Defining extremism

Redefining extremism may well be the first step to clamping down on advocacy for Palestine.
Climate in focus
18 Mar, 2024

Climate in focus

IN a welcome order by the Supreme Court, the new government has been tasked with providing a report on actions taken...
Growing rabies concern
18 Mar, 2024

Growing rabies concern

DOG-BITE is an old problem in Pakistan. Amid a surfeit of public health challenges, rabies now seems poised to ...