The trend continued and market remained volatile on Friday amid political tension in the country. The benchmark moved between intraday high of 389 and low of 138 points.
Foreign investors bought shares worth $1.32 million. Brokers sold shares valued at $0.38 million. Insurance companies which have been major buyers in the past few weeks offloaded stocks worth a $4.97 million. The volume increased 39pc over the earlier day to 324.8 million while traded value also increased 29pc to $67.7m.
The Mutual Evaluation Report of the Asia Pacific Group (APG), out of 40 recommendations found non-compliant on four, largely compliant on 8 and partially compliant on 28. More updates from FATF are expected at the end of October. This has been another major contributor in volatility in the market.
Exploration and production and chemical sector posted gains on the back of an increase in prices of international crude as well as expectation of “positive delta” in chemical products of listed entities of the sector, analysts said.
Cement, E&Ps and Financials were the major losers as Habib Bank, down 1.5pc, MCB 0.9pc, Lucky Cement 0.6pc, Pakistan Oilfields 0.7pc, DG Khan Cement 1.7pc, United Bank 0.4pc and Pakistan Petroleum 0.4pc contributed to the negative close.