PSX Closing Bell: Red Refuses to Leave

Pakistan’s KSE-100 fell 1,710.04 points, or 0.95%, on Thursday to finish at 177,373.76, Mettis Global reported. The index briefly rose above 180,000 early in the session, reaching 180,310.44, before selling pressure took it as low as 177,271.60. Reports about the possible release on bail of former prime minister Imran Khan added to political uncertainty, according to the report.

Decliners outnumbered advancing companies, 83 to 16, among KSE-100 constituents. Commercial banks made the largest negative sector contribution, followed by cement, technology and communication, fertilizer, and power generation and distribution. MARI provided the strongest support, while UBL, LUCK, HUBC, SYS and FFC were the biggest drags on the index.

Across the wider market, the All-Share Index lost 846.42 points to close at 106,122.87. Trading volume fell to 1,070.48 million shares from 1,248.21 million in the previous session, and traded value was Rs31.64 billion, down Rs10.18 billion. The KSE-100 has declined 2,928 points during the fiscal year but gained 3,319 points so far in the calendar year.