Stock market sheds 490 points on selling pressure

Stock market sheds 490 points on selling pressure

KARACHI: The stock market fell by 490 points on Friday owing to selling pressure seen during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 47,563 points as against previous day’s closing of 48,053 points, showing a decline of 490 points.

Analysts at Topline Securities said that KSE-100 index returned to its course as after positive session yesterday, index remained under pressure during the day to close at 47,563 level.

Major pressure to the index came from TRG, LUCK, KAPCO, HUBC and PAKT, as they cumulatively weighed down on the index by 214 points.

Traded volume and value for the day stood at 506 million shares and Rs.15.37 billion. TPL was today`s volume leader with 42 million shares.

Leave a Reply

You have to agree to the comment policy.