KSE-100 Index ends below 48,000 as FATF review begins

The KSE-100 Index, widely considered a benchmark for market performance, declined for the second successive day of the week to close below the 48,000-point level as profit-taking and uncertainty gripped investors at the Pakistan Stock Exchange (PSX).

The index swayed in both directions until ending 25 points lower, going below the 48,000 level that had proved to be a support level earlier. At close on Tuesday, the KSE-100 registered a fall of 25.38 points or 0.05% to end at 47,987.14. It has now cumulatively shed 251 points since earlier this week when it began trading at 48,238.

Participants resorted to profit-booking during the second day of the roll-over week, which coincides with the ongoing meeting of the Financial Action Task Force (FATF) where Pakistan’s progress on the implementation of a 27-point action plan would be reviewed.

Volume on the all-share index declined from 839.19 million shares on Monday to 610.74 million shares. The value of shares traded during the session clocked in at Rs15.52 billion.

Silk Bank Ltd was the volume leader with 75.45 million shares, followed by WorldCall Telecom (48.19 million), and K-Electric Ltd (37.41 million).

Shares of 420 companies were traded during the day with 162 registering an increase, while those of 236 declined. Share prices of 22 companies remained unchanged.