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PSX drops 120pts till midday

PSX drops 120pts till midday

KARACHI: The Pakistan Stock Exchange dropped another 120 points to reach 46211 level till midday on Friday.

The stocks started the last trading day on bearish note and shed 108 points to drop to 46224 level in early trading.

On Thursday, the stocks posted third consecutive bearish session during current week, as dwindling investors’ confidence in blue chip stocks coupled with uncertainty over formal approval of parliamentarians for recently launched amnesty scheme dragged 100-share index down by 155 points. The index closed at 46,332 points. Out of 392 traded scrips, 157 managed to close green and 215 closed red while rest remained unchanged.

Top five stocks HBL (-2.3 percent), FFC (-1.9 percent), PSEL (-5 percent), LUCK (-1.1 percent) & NESTLE (-2.6 percent) withheld 165 points from the index whereas stocks including UBL (+0.9 percent), OGDC (+0.6 percent), HCAR (+4.6 percent), PAKT (+2.4 percent) & KEL (+2.8 percent) added 68 points to the index gain.