PSX sheds over 2,000 points investors resort to profit-taking
“The KSE-100 Index fell 2,024.81 points, or 1.15%, to 173,355.05 amid profit-taking after Thursday’s strong rally at the Pakistan Stock Exchange. KARACHI (Dunya N…”
KKARACHI —The Pakistan Stock Exchange (PSX) witnessed a bearish trend on Friday, with the benchmark KSE-100 Index losing more than 2,000 points amid profit-taking by investors on the last trading day of the business week. The benchmark index fell 2,024.81 points, registering a decline of 1.15 percent to stand at 173,355.05 points.
During the trading session, the index touched an intraday high of 174,329.76 points and a low of 172,809.89 points. Trading volume stood at 65,724,260 shares. The previous closing level was recorded at 175,379.86 points.
The downturn followed a strong rally on Thursday, when the KSE-100 Index surged by 3,366.38 points, or 1.96 percent, to settle at 175,379.87 points against the previous session's close of 172,013.48 points. The ready market witnessed a trading volume of 999.812 million shares, compared to 841.615 million shares traded in the previous session.
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The traded value of the ready market reached Rs46.062 billion, up from Rs35.392 billion a day earlier. Meanwhile, total market capitalisation increased to Rs19.113 trillion from Rs18.777 trillion recorded in the previous session.
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