The Karachi stocks market Friday plunged by 205 points or 1.46 percent on the back of what the analysts said concerns for falling global commodities and stocks.
Last trading session of the week saw the benchmark KSE 100-share index closing at 13,857.78 points against 14,063.08 points of Thursday. The index hit the respective intraday high and low of 14,099.08 and 13,843.56 points.
The turnover in the traded shares at the ready-counter was recorded at 175.707 million against the 143.055 million shares of the previous day.
“The stocks fell across the board amid thin trade on concerns for falling global commodities and stocks,” viewed Ashen Mehanti, a director at Arif Habib Securities.
The senior market analyst said institutional profit-taking, limited foreign interest, cautious trade ahead of federal budget announcement due next month and concerns for rising current account deficit played a catalyst role in bearish sentiments at KSE on friday.
This, he said, was despite hopes for improvement in Pak-US relations on the resumption of NATO supplies.
The trading value stood at Rs 5.160 billion from the previous Rs 5.014 billion. The market capital also slid to Rs 3.539 trillion from 3.593 trillion of the preceding day.
In total 340 scrips were traded, of which 76 ended up in the green zone, 202 in red zone and 62 remained unchanged.
The Lotte Pak-PTA appeared as a volume leader with 22.379 million of its shares traded. The company marked a 0.71-paisa per share loss with its share price opening and closing at Rs 9.23 and Rs 8.52, respectively.
The trading volume on the future market also remained lower and was recorded at 14.502 million shares against 16.017 million of the last trading session. The day marked all the 94 scrips traded ending up in minus.
