The Pakistan equity market tumbled on Friday as investors grappled with concerns over a super tax on high-earning corporates and monitored developments on a US-India trade deal.
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) on Friday witnessed a bearish trend, losing 3,702.50 points, a negative change of 1.97 percent, to close at 184,129.58 points compared to 187,832.08 points on the previous trading day, according to PSX data.
During the session, the ready market recorded a trading volume of 1,272.642 million shares with a traded value of Rs 60.360 billion, against 1,195.264 million shares valuing Rs 44.102 billion in the previous session. Market capitalization declined to Rs 20.883 trillion from Rs 21.278 trillion a day earlier.
Out of 480 active companies in the ready market, 113 advanced, 323 declined, while 44 remained unchanged.
K-Electric Limited topped the volume chart with 517.815 million shares, followed by National Bank of Pakistan (XD) with 51.242 million shares and First National Equities with 50.264 million shares.
The top gainers included Sazgar Engineering Works Limited, which rose by Rs 75.78 to close at Rs 2,332.25, and Shield Corporation Limited, which gained Rs 70.47 to settle at Rs 775.17.
On the losing side, Unilever Pakistan Foods Limited declined by Rs 429.09 to close at Rs 26,779.08, while PIA Holding Company Limited (B) fell by Rs 270.00 to close at Rs 19,232.00.
In the futures market, turnover stood at 278.254 million shares with a traded value of Rs 15.252 billion, compared to 283.569 million shares worth Rs 10.188 billion in the previous session. Out of 322 futures-market companies, 43 recorded gains, while 279 declined with none remaining unchanged.