KARACHI: The bearish trend Friday forced the Pakistan Stock Exchange to drop further 270 points to reach 39717 points level in early trading.
On Thursday, the PSX 100-share index lost 539.50 points and fell below the psychological level of 40,000 points, closing at 39,987.31 points. Market opened on a positive note but soon came under selling pressure as jittery investors sold shares on the back of ongoing political uncertainty, brokers said. LUCK (0.19%), in the cement sector, gained as the cement manufacturer declared its result for 1QFY17. In its result, company posted EPS of Rs10.01, which was 9.1% YoY higher. Overall, volumes declined by 10.3% to 384m shares, while value decreased by 3.9% to Rs12.4b/$119m. Of total 440 scrips that participated in the session, 373 closed in negative, 54 in positive while 13 went unchanged.
