Pakistan Stock Exchange: Friday’s first session finishes in red

KARACHI: After falling a thousand points, trading in Pakistan Stock Exchange began on a positive note, but it was only a blip.

The benchmark 100 index resumed its fall, challenging its June 12 low of 43,027 to form a brand new low for the year – 42,347. Technically speaking, index is forming lower highs and lower lows, apparently suggesting investors are not comfortable holding their stakes.

The index closed the first session at 42,739 after falling 396 points. At point index was 788 points down though it retraced by closing. Investors traded more than 100 million shares valuing Rs5.5 billion.

According to BIPL research, political situation is impacting the market. The research suggests there are issues on the economic front but they are at the back seat, so political situation empowers the bears.