Pakistan Stock Exchange (PSX) ended the trading session on Friday in the red as the benchmark KSE-100 index dropped by 312 points, closing at 119,649, reported 24NewsHD TV Channel.
The highest level of the 100 index was recorded at 120506 points. The lowest level of the 100 index was 119541 points. The index closed at 119961 points yesterday.
The PSX failed to maintain 120,000-point level despite briefly rally during the day. Throughout the day, the market saw high volatility, with mixed investor sentiment driven by caution ahead of the upcoming federal budget. Despite the downward trend, pharmaceutical stocks saw notable buying interest.
The day’s trading saw significant activity, with approximately 570 million shares changing hands, amounting to a total turnover of Rs. 29 billion. While volumes remained strong, pressure from profit-taking outweighed the gains made earlier in the week.
Analysts say that market direction in the coming sessions will largely depend on fiscal policy announcements, particularly measures related to taxation, corporate incentives, and government spending.