Profit taking leads PSX-100 to lose 306 points to close at 49,210

KARACHI: The PSX-100 witnessed a bearish trend at the last trading day of the week, decreasing by 266 points to close at 49,210 points.

The index saw a bullish trend in the first half of trading session, and shot up by 157 points to 49,673. However, profit-taking by investors led to a downward trend, with the index losing 306 points to close at 49,210 points.

Overall, 514,224,640 shares were traded during market hours, with talks of institutional sell off weighing down on sentiment.

Banks remained the biggest contributors to overall decline with expectations of delayed interest rate hike taming sentiment. Cements remained under pressure. Growth in LSM numbers led the initial frenzy, but later on succumbed to broader sell-off.