Finance

Bears Took Over at Pakistan Stock

Karachi, July 04, 2019: Bears took over the bourse after four consecutive positive closings. Investors resorted to profit-booking amid pressure on stocks across the board. After an initial spike, the KSE-100 index maintained its downward trajectory and finished the day with a brutal sell-off.

At the end of trading, the benchmark KSE 100-share Index recorded a decrease of 325.93 points, or 0.93 percent, to settle at 34,570.62

Market participation for the 100 indexes decreased to 89 million from 99 million in the previous session (-10 percent on d/d basis). A major contribution to total market volume came from KEL, TRG, and MLCF churning 25 million shares out of the total market all share volume of 112 million shares. Daily traded value for the 100 Index decreased to USD 25 million from USD 27 million in the previous session.

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