Abb Takk News

Stock Market Ends With Negative Note

KARACHI: The stock market experienced a rather muted session on Friday amid concern over Moody’s report that termed Financial Action Task Force’s review of Pakistan credit negative for the country’s banks.

Market participants also remained cautious over reports about likely delay in the privatisation of state-owned enterprises and dismal corporate earnings in cement, banking, oil and gas exploration sectors.

At close, the benchmark KSE-100 index recorded a decrease of 103.70 points, or 0.27%, to settle at 37,983.62.

Overall, trading volumes decreased to 202.2 million shares compared with Thursday’s tally of 249.2 million. The value of shares traded during the day was Rs8.6 billion.

Shares of 358 companies were traded. At the end of the day, 173 stocks closed higher, 161 declined and 24 remained unchanged.