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Pakistan Stock Exchange witnesses bearish tend

KARACHI: The Pakistan Stock Exchange witnessed bearish on Friday as the KSE-100 index closed today at 33870.15 points with a negative change of 28.41 points.

Total 367 companies’ transacted shares in the Pakistan Stock Market today, out of which 136 recorded gain and 207 sustained losses whereas the share price of 24 companies remained unchanged.

On the other hand, gold rates in the local market slightly fell by Rs50 to Rs86,850 per tola.

The rate of 10 grams yellow metal decreased by Rs42 to Rs74,460.

Meanwhile, gold in global market also fell after a Brexit deal was struck by Britain and the European Union, though losses were limited by weak economic data from the United States and China.

Read more: PSX registers positive trends at the start of weekly trading

Spot gold was down 0.2% at $1,489.02 an ounce at 1143 GMT. U.S. gold futures fell 0.4% to $1,492.50.

The European Union backed a new Brexit deal with Britain on Thursday, more than three years after Britons voted in a referendum to leave the bloc.

“The focus is on Brexit. The risk of a no-deal Brexit has dropped and overall the sentiment on the Brexit front has improved a lot, but now it’s just the uncertainty of the vote,” said ABN Amro analyst Georgette Boele.

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