PSX closes negative, sheds 83 points

KARACHI: On the last business day of the week, the 100-index of the Pakistan Stock Exchange (PSX) on Friday shed 83.29 points, a slight negative change of 0.11 percent, closing at 78,444.96 points against 78,528.25 points on the last working day, ARY News reported.

A total of 347,671,672 shares were traded during the day as compared to 283,542,503 shares the previous day, whereas the price of shares stood at Rs 11.899 billion against Rs 11.067 billion on the last trading day.

Around 435 companies transacted their shares in the stock market, 189 of them recorded gains and 170 sustained losses, whereas the share price of 76 companies remained unchanged.

Last week, the KSE-100 index of PSX experienced a volatile trading session and crossed 80,000 points – a historic milestone – before closing at 78,810.49 points against the previous day’s close of 78,801.53 points as the investors withdrew their profit during the intraday trade.

The market opened on a strong note, riding high on investor optimism and robust trading activity. However, as the day progressed, profit-taking set in, eroding earlier gains.

Despite the profit-taking, the index managed to eke out a modest gain of 8 points, ending the session at 78,810 points.