The last trading day of October was dominated by bearishness at the Pakistan Stock Exchange and after four consecutive days of rally, the benchmark KSE-100 index recorded a decline of 784 points. On the other hand, the Sharia-compliant KMI 30 index also closed with a decline of 986 points.
According to Pakistan Stock Exchange data, the KSE-100 index closed at 166,409.25 points after a decline of 784.18 points or 0.47 percent. During the last four trading sessions, the index had gained a total of about 4,800 points.
The KMI-30 index, which represents Sharia-compliant companies, also could not be immune to business pressure. The index closed down 986.41 points or 0.41 percent at 237,971.74 points, compared to 238,958.15 points in the previous session.
According to market sources, the decline on the last trading day could be the result of investors booking profits after the recent rally. After four days of gains, about 16 percent of the points gained during the week were lost.
October was a negative month for the stock market overall. The KSE-100 index fell by about 3,500 points on a monthly basis. During this period, the index recorded a high of 170,688 points while its low was 161,250 points.
During the trading activity, about 10.25 billion shares were traded in a month, with a total value of about Rs 450 billion.
During the same period, the total market capitalization of the Pakistan Stock Exchange decreased by Rs 538 billion to Rs 18,388 billion, reflecting an overall decline in share prices.
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