KARACHI: Pakistan’s stock market remained under bearish trend as the profit-taking from investors made the benchmark index move down for the fourth day in a row.
The benchmark Karachi Share Index (KSE-100) lost 30.48 points (0.07%) after closing at 46,644.29 points against the previous closing of 46,674.77 points. The market went up to 46,846.78 points during intra-day trading, while recorded as low as 46,343.64 points.
Trading volume increased to 1.01 billion shares today as compared to 664 million traded in the previous session, according to PSX website data. The daily traded value declined to Rs 27.29 billion from Rs 28.37 billion in the previous session, the data said.
KSE-100 index opened the day in negative as an extension of the previous day’s corrective movement. The extended decline continued till noon when the benchmark index recorded 323 points in negative. However, some selective buying supported the market to mitigate losses that helped the market close the day with marginal losses. The marker today displayed some strength that may result in improvement and gains in the upcoming session, traders and researchers said. The manageable corrections are always good and healthy for the market, they added.
The share price of Khyber Textile increased by Rs 25.11 to Rs 767.
24 while Pakistan Tobacco gained Rs 24 to Rs 1,599. On the other hand, Rafan Maize lost 327.43 today to close at Rs Rs 10,200 while Mari Petroleum lost Rs 37.24 to close at Rs 1,654.92.