Staff Reporter
Karachi
The Pakistan Stock Exchange (PSX) succumbed to selling pressure on Friday following three days of consecutive advances. Bears returned to the bourse as the benchmark KSE-100 index spiralled downwards amid pressure on selected sectors.
The KSE-100 index continued to oscillate between red and green zones. Although overall sentiment was positive, investors still opted to book profit and switch positions. Selling activity was noted in stocks across the board with the cement sector remaining under pressure over anticipation of a decline in cement dispatches.
Earlier, the KSE-100 index opened its first session on a negative note and marched south, losing 133 points. However, tables turned during the session and investors resorted to stock buying. But the positive momentum did not last long and the index closed in the red. At close, the benchmark KSE-100 index recorded a decrease of 223.94 points, or 0.55%, to settle at 40,807.09 points. .
