KSE-100 index plunges by 1,562 points in week

KSE-100 index plunges by 1,562 points in week

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) witnessed a decline of 223 points on Friday and witness a fall of 1,562 points to end the week.

The KSE-100 index ended at 45,074 points from the previous day’s closing of 45,297 points. The index continuously fell during all the days during the outgoing week.

The index ended at 46,636 points last Friday i.e. September 17, 2021, and closed at 45,074 points on September 24, 2021.

Analysts at Topline Securities said that the stock market continued its bearish momentum.

The KSE-100 index largely remained in the red zone on the last trading session of the week to close at 45,074 level, as an increase in the policy rate by 25 basis points to 7.25 per cent by the State Bank of Pakistan (SBP) earlier this week kept the investor sentiment bearish.

TRG, MCB, CHCC, INDU and FFBL lost value to weigh down on the index by 102 points. Traded volume and value for the day stood at 370 million shares and Rs.11.78 billion respectively.

BYCO was today’s volume leader with 47 million shares.

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