KARACHI: The Pakistan Stock Exchange shed 129.83 points to drop to 39857.48 points level as bearish trend continued till midday on Friday, the last trading day.
Earlier, the bearish trend forced the PSX 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.