The Pakistan Stock Exchange (PSX) had a bear session on Friday with selling pressure mounting in the market, which resulted in a 2,382-point loss on the benchmark KSE-100 Index at the end of trading on Friday.
The benchmark index ended at 175,802 points, as traders were cautious about trading during a weak day as market sentiment continued to be uncertain.
The KSE-100 Index during the session traded in a broad range of 2,903 points with high fluctuations as traders responded to market sentiment.
But trading activity remained healthy. The total value of shares traded on the day was Rs 29.88 billion as more than 620 million shares were traded in the day.
The market downturn also affected the investor wealth as the overall market capitalisation declined by Rs249 billion to Rs19.709 trillion.
The drop was driven by general selling and profit booking after a recent rally, and investors generally took a cautious stance to gauge the economic prospects and market prospects, according to market analysts. Attention is likely to be drawn to macroeconomic indicators, corporate earnings and policy-related announcements that are likely to shape the direction of markets in coming sessions, they added.
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