PSX witnesses slight decline as 25 points drop

PSX witnesses slight decline as 25 points drop

PSX witnesses slight decline as 25 points drop

PSX witnesses slight decline as 25 points

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KARACHI: Pakistan Stock Exchange (PSX) witnessed a slight decline on the last trading day of the business week as the KSE-100 plunged by 25.47 points to close at 48,585.71 points on Friday.

It saw a high level of 48,840.27 points while dipping to 48,427.99 during the intraday trading sessions before closing almost flat.

Meanwhile, the stock market registered 3.1 percent gains during the week, propelling the benchmark index upward for the sixth consecutive week. The development also marked the longest winning streak since the impressive run of eight consecutive weeks observed from July ’20 to August ’20.

The KSE-100 index temporarily dipped below the previous day’s low, but it managed to hold its ground above the 48,000 mark.

“Today’s market exhibited a more selective trend, highlighted by OGDC PA (+3.26%), PRL PA (+4.62%), and MIL PA (+3.94%) leading the surge, while the cement sector faced a collective decline,” Arif Habib Limited said in its analysis.

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It said anticipation is building for potential positive triggers over the weekend that could propel the index to move toward and surpass the 49,000 level in the upcoming week.

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