KARACHI: The Pakistan Stock Exchange (PSX) ended the trading week with a significant decline, as the main index, the KSE-100 index, fell amid a volatile trading week.
On the latest data, the KSE-100 index has lost 6,438 points in a week and closed at 175,802 points by the end of Friday. The losses dented a major rally from previous weeks.
Trading activity was brisk all week. Overall, the benchmark index traded back and forth in activity of 7,798 points, as investors were often seen swinging on and off the bandwagon.
The market hit a weekly high of 181,148 points before falling sharply. The index, which has fallen below its 2013 annual average every week, ended the week at 173,349 points.
Brokers said investors were mostly on the sidelines, with many taking a wait-and-see stance after the market’s recent rally, with many taking profit-booking positions, while others were waiting on the sidelines in anticipation of new economic developments. Moody’s trading activity has been mixed throughout the week.
Market participants will be on their toes and keeping an eye on economic data, earnings releases and policy statements in the coming days that could potentially drive trading direction for the coming sessions.
