Bearish trend opens trading at PSX

Friday 10 March 2017 2 weeks ago 9   Karachi   Print

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Report  Web desk : The stock market regained some of the losses as investors bought shares on dips after offloading in the final hour after shedding of 342 points and closed the day with 49392. At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index ended with a fall of 342.28 points or 0.73% to end at 49,392. Earlier, stocks opened lower before investors opted to cherry-pick shares at attractive valuations. Volumes, however, remained lower and activity listless. According to Elixir Securities, equities lost ground as aggressive institutional selling in the final 30 minutes of trading pulled the KSE-100 index down 1%. Oil and Gas Development Company (-2.3%) suffered most of the selling pressure followed by Pakistan Oilfields (-2%) and Pakistan Petroleum (-1.6%).(01)