KARACHI: The dismal week continues on Thursday at the stock market which fell on the fourth consecutive day over lack of political or economic triggers.
The benchmark KSE 100 index at the Pakistan Stock Exchange dropped by 54.32 points, or a decrease of 0.13 percent to eventually close at 42.506.95 points. The stock reached its highest point on 42,906.14 but failed to cross the 43,000 threshold and slipped downward before trade was suspended. The total volume of scripts was 160.425 million valued at Rs8.545 billion.
Meanwhile, the lower KSE 30 index witnessed a minuscule decline of 10.83 points (-0.05%) to close at 19,728.54 points. The total volume of scripts was 103.263 million. The shares of several active stock increased as cement sector also a rise investment notably MLCF (3.01%), Fauji Cement (0.55%), DGKC (0.12%), Pioneer (1.57%), and Cherat Cement (1.76%). There was an increase in investment for textile sectors, sugar mills, and equities sector.
It has been a lacklustre week for the stock market as indices dropped for the fourth consecutive day. The bourse stay deep in red on Wednesday as shares in the oil and gas sector dropped tumbling the entire stock market. Investors ditched its investment in the ODGC over concerns that the government will divest its holdings at a discount. The rumours were debunked before the stocks rebounded but failed to put the market on the path to recovery.