PSX ends four-session rally on oil surge
Dawn • • 1 min read
The KSE-100 fell 784.19 points, or 0.47 per cent, to 166,409 on Friday, ending a four-session advance, Dawn reported. The decline followed a volatile session in which the index moved between 166,535 and 167,339 before finishing close to its low.
Rising oil prices, worries about possible supply interruptions and investor selling after the recent rally weighed on sentiment. Brent crude climbed above $116 per barrel, while the Finance Division forecast October inflation at 9.5pc-10.5pc; diesel was Rs400.67 per litre and petrol Rs377.91. UBL, Lucky Cement, HBL and Attock Refinery were among the biggest drags, while Meezan Bank and OGDC supported the index. Trading volume rose 1.05pc to 825.46 million shares, but turnover dropped 26.69pc to Rs23.12 billion.
At a glance
- The KSE-100 shed 784.19 points and closed at 166,409.
- Trading turnover fell 26.69pc to Rs23.12 billion.
Originally reported by Dawn
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