KARACHI: The Pakistan Stock Exchange (PSX) became bearish again till midday as the benchmark 100-index 156 points to drop to 40111 level on Friday.
Earlier, the stocks started day witnessing fluctuation; however, it remained positive after adding 39 points to reach 40305 level in early trading.
Yesterday, the stocks succumbed to pressure throughout the day owing to uncertainty on the political front and roll-over week pressure. The KSE 100-index pulled off positive in the morning but ultimately bled 326 points to close down at 40,266 points. Key stock such as NBP (down 0.8%), HBL (0.3%) and UBL (0.8%) closed red while MCB (up 0.4%) and BAFL (up 0.4%) closed in the green zone, market participants said.
Major contributors to the index were LUCK 10 points, MCB 6 points, HASCOL 3 points, PGF 3 points and IGIIL added 3 points to the index gain. On the contrary, scrips that contributed negatively included HUBC that shed 40 points, PSO that eroded 32 points, ENGRO that detracted 29 points, PAKT that shed 20 points and NESTLE that took away 19 points from the index. Traded volumes DoD were down 35% to 102m shares while value was up 1% to $51m.
