Pakistan Stock Exchange continued its downward trend on Friday

KARACHI ( WEB REPORT )

The Pakistan Stock Exchange (PSE) continued its downward trend on Friday after the SBP issued monetary policy due to uncertain circumstances over the sale of shares. The decline came to the level of 45868.04 points and the share prices of 59.33% companies declined, resulting in a decrease of Rs 19.148 billion in market capitalization. The trading volume in the Pakistan Stock Exchange (PSE) on Friday started trading in the positive zone and investors’ interest in buying shares of for-profit companies accelerated. As a result, the KSE 100 Index restored the psychological level of 46,000 and reached a high of 46,115.10 points. However, after the issuance of monetary policy by the SBP, due to the uncertain situation, the selling pressure of the shares could not be maintained at the psychological level of 46,000 and the market plunged due to which the index fell to a low of 45693 points. Later, there was a recovery but the bearish trend prevailed and at the end of the trading session, the SE-100 Index lost 116.42 points to close at 45868.04 points. Similarly, the SE-30 Index declined by 87.18 points to 19,060.98 points and the KSE-All Shares Index declined by 72.94 points to 31,840.92 points. Share prices of 17 companies remained stable. Due to the recession, the market investment value decreased from Rs. 83.34 trillion 32.64 crore to Rs.83.15 trillion 31.16 crore. Shares of Rafhan Meez rose by Rs 411 to Rs 10,890 and ICI Pakistan rose by Rs 17.03 to Rs 859.08.

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