Profit-taking snaps four-day rally at PSX

The KSE-100 fell 784.19 points, or 0.47%, on Friday to finish at 166,409.25, ending October 2.09% lower month on month, The Express Tribune reported. UBL, LUCK and HBL were among the biggest drags, while UBL, LUCK, HBL, FATIMA and ATRL together accounted for 359 points of index losses.

Higher crude prices amid concerns over US-Iran tensions and reported tanker attacks near the Strait of Hormuz weighed on sentiment, alongside investors selling after the recent rally tied to September-quarter results. OGDC’s first-quarter earnings per share rose 53% year on year to Rs13.60, and it declared a Rs5-per-share dividend, offering some support. Foreign investors sold Rs6.2 billion of shares, while daily turnover reached Rs23.12 billion.