Sharp fall in PSX on last day of business week

Karachi: Even on the last day of the business week, there is a sharp bearish trend in the stock market due to which the investors have become worried.

At the start of business today, the stock market lost more than 2,000 points during trading, after which the 100 Index reached the level of 72,237 points.

It is important to mention that last day also, there was a fourth consecutive upward trend in the Pakistan Stock Market due to which the investors had to bear loss of billions.

On the fourth day of the business week, a slight positive trend was seen in the stock market at the beginning of the business, but the business ended in the negative zone due to which the 100 Index closed at 73,862 points with a decrease of 356 points.

Notably on Wednesday, the Pakistan Stock Market saw a decline of 447 points, after which the 100 Index closed at the level of 74,219 points.

112.794549 million shares worth over Rs6.44 billion were transacted in the stock market yesterday.

The economists said the observation revealed that selling pressure in the market has particularly affected shares of banks, fertilizers, exploration, production and technology companies.