Pakistan’s benchmark KSE-100 index remained under pressure during early intraday trading today, slipping sharply.
At 11:05am PST, the index was trading at 186,658.35 points, down 1,722.03 points, or 0.91 per cent, from its previous close of 188,380.38. The benchmark touched an intraday high of 188,923.39 points in early trade before sliding to a session low of 186,658.35.
Trading activity remained subdued in the first half of the session, with volumes at 117.82 million shares and a total traded value of Rs11.61 billion.
Market participation was largely concentrated in a handful of high-volume stocks. K-Electric traded 41.52m shares, as the stock slipped 0.96pc to Rs7.23. Waves Home Appliances Limited saw strong interest, rising 6.65pc to Rs11.06 on volumes exceeding 20.22m shares. Sui Southern Gas Company gained 2.77pc to Rs35.67, while WorldCall Telecom Limited edged down 0.58pc to Rs1.70.
Among other actively traded stocks, Nishat Chunian Power Limited declined 2.56pc to Rs76.80, Bank of Punjab fell 1.14pc to Rs40.82, and Hascol Petroleum Limited shed 1.75pc to Rs24.63.
Signature Residency Reit led advancers, rising 25pc to Rs17.50 followed by Javedan Corporation (Pref), East West Insurance Company Limited, Reliance Weaving Mills Limited, Blessed Textiles Limited, Aisha Steel Convertible (Pref), The Pakistan Credit Rating Agency Ltd, Gillette Pakistan Limited, Apna Microfinance Bank Limited, and Ideal Spinning Mills Limited.
Heavy selling was observed in several stocks. Kohat Cement and Kohat Oil both dropped 10pc to Rs44.60 and Rs63.06, respectively. First Tri-Star Modaraba slipped 9.99pc to Rs40.19, while Khairpur Sugar Mills Limited declined 8.09pc to Rs151.65.
