KARACHI: The bearish trend started trading at the Pakistan Stock Exchange on Friday and shed 205 points to drop to 44542 level in early trading.
on Thursday, the bearish trend at the PSX continued with the benchmark KSE-100 Index losing 450 points to fall below the 45,000 mark.
The positive opening at the index lasted only a few minutes, and midway through the day got only worse, with the index marking an intra-day low of over 700 points before closing at 44,747.
Elixir Securities attributed the fall to the International Monetary Fund (IMF) “now seeing country’s growth for FY19 slowing down to 4.7pc against the government’s growth target of 6.2pc for next year.”
In all, 144.2 million shares worth Rs6.6 billion were traded at the exchange. Of the 373 traded stocks, only 85 advanced, 271 declined and 17 remained unchanged.
