PSX witnesses bearish trend as KSE-100 falls 87 points
The Pakistan Stock Exchange (PSX) saw a range-bound trading session on Thursday as the KSE-100 Index traded in a narrow range to close with loss.
Weakening macroeconomic cues and rising political noise played on minds of investors and volumes remained thin.
At close, the KSE-100 Index was down 87.65 points or 0.21% to settle at 41,029.67.
Trading began downward and the market fell steadily for most part of the day. Cherry picking in final hour eroded few of the losses.
Automobile, chemical and banking sectors closed with a loss while oil and cement space ended the day on a mixed note.
Sectors painting the benchmark KSE-100 index in red included technology and communication (114.48 points), banking (29.91 points) and textile composite (21.43 points).
Volume on the all-share index inched up to 125.3 million from 105.6 million on Wednesday, while the value of shares traded rose to Rs4.1 billion from Rs2.6 billion recorded in the previous session.
Gul Ahmed was the volume leader with 10.7 million shares followed by Pak Refinery with 8.4 million shares and WorldCall Telecom with 8.1 million shares.
Shares of 324 companies were traded on Thursday, of which 110 registered an increase, 184 recorded a fall and 25 remained unchanged.
