PSX extends losses as investors take profits ahead of weekend
Business
PSX extended losses on Thursday, with the KSE-100 index dropping 513.85 points (0.31%). Investors took profits after recent gains. Trading volume fell, with 203 companies gaining and 232 losing.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) extends losses on Thursday due to profit-taking rally by investors ahead of closing of the business week.
During intraday trading, the KSE-100 index has recorded a decline of 513.85 points to 166,039.42 points, marking a negative change of 0.31 percent compared to previous close of 166,533.27 points.
Experts believe that investors have chosen to book the profits after recent massive gains.
A day earlier, the 100-index witnessed a bearish trend on Wednesday, losing 793.55 points, a negative change of 0.47 percent, closing at 166,553.28 points against 167,346.83 points on the last working day.
A total of 476 companies transacted their shares in the stock market; 203 recorded gains, 232 sustained losses, and 41 remained unchanged.
The total trading volume was 1,568.82 million shares compared to 1,819.32 million shares the previous day, while the traded value decreased to Rs55.06 billion from Rs56.82 billion. The market capitalization declined to Rs19.21 trillion from Rs19.27 trillion.
