Trading suspended amidst bearish stock market

KARACHI: Pakistan Stock Exchange (PSX) was able to maintain an upward trajectory since the start of the current trading week until yesterday (Thursday). However, the last two trading days of the week seemed to bring bearish mood for the index.

On Thursday, the index opened at 64,822.43 points and dropped to 64,298.00 points by the day end. On Friday (today), the benchmark KSE-100 index further deepened the decline to 64,236.99 points.

Will PTA reduce approval fees for Apple iPhone, Samsung smartphones in Pakistan?

Initially the growth came on back of the rally brought by the energy sector companies, but by Wednesday, the index has started to grow as a whole with multiple segments leading charge. Thursday saw the index change direction, and on Friday the downturn was also primarily led by the energy sector.

Last week, the index went through severe fluctuations following the geopolitical tensions on Pakistan-Iran border. This week, however, saw fluctuations mainly on the back of local political and economic uncertainty.