Bearish momentum seen as KSE-100 closes in the red
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Pakistan’s benchmark index, the KSE-100, closed in the red on Friday.
The index experienced a volatile session with a high of 188,036.30 points and a low of 183,547.29 points.
The index closed down 3,702.50 points, a 1.97pc fall from the previous close of 187,832.08 points on Wednesday.
The top active stocks for the day were led by K-Electric Limited at a volume of 517,815,082, which rose 7.58pc to Rs8.94, followed by National Bank of PakistanXD with a volume of 51,241,717, which fell 8.01pc to Rs263.48, and First National Equities Limited with a volume of 50,264,390, falling 5.23pc to Rs1.63.
It is worth mentioning that the rise in K-Electric came after it emerged that its Chief Executive Officer Moonis Alvi stepped down from his position.
The top advancers were led by First Elite Capital Modaraba, rising 10.02pc to Rs22.50, followed by Hala Enterprises Limited, increasing 10.02pc to Rs23.60, and Arpak International Investments Ltd., rising 10pc to Rs66.
The top decliners were Chenab Limited (Pref), falling 12.50pc to Rs3.71, PICIC Insurance Limited declining 10.51pc to Rs4.94, and Janana De Malucho Textile Mills Limited falling 10pc to Rs121.06.
