PSX Closing Bell: KSE100 Index down 721.23 Points

The fallout from the downgrade in the credit rating outlook by Moody’s along with concerns about the economy continued to be felt at the Pakistan Stock Exchange with the benchmark  KSE100 Index losing 721.23 points to close the week at 41,637.38

Trading had started positively with the index gaining 140.57 points in the first 20 minutes of trade before gradually falling and ending the first session 325 points down. The index opened the second session stronger, chipping away the losses to just -250 points, before falling further and ending the session 1.70% down from yesterday.

The index moved in a range of 941.82 points or 2.22% of previous close touching an intraday high of 42,499.18 (+140.57) and a low of 41,557.36 (-801.25) points.

All Share Volume decreased by 62.71 Million to 178.97 Million Shares. Market Cap decreased by Rs.152.50 Billion.

Total companies traded were 347 compared to 345 from the previous session. Of the scrips traded 75 closed up, 257 closed down while 15 remained unchanged.

Total trades decreased by 10,162 to 45,805.

Value Traded decreased by 1.68 Billion to Rs.7.65 Billion