PSX dips on week's close as benchmark index loses 260 points
The Pakistan Stock Exchange (PSX) closed the week in the red on Friday, with the benchmark KSE-100 losing 260 points to close at 46,072 points.
The index opened lower and continued on the downward slide, with a brief spike in selling observed after the Supreme Court declared disqualification under Article 62(1)(f) to be for life. The decision precludes any possibility of Nawaz Sharif returning to public office for life.
The index touched a high of 46,350 points early on, and hit a day's low of 46,036 towards the session's close.
In all, 197 million shares worth Rs8.75 billion were traded at the exchange. Of the 349 traded scrips, 133 advanced, 200 declined and 16 remained unchanged.
The power generation and distribution sector dominated trading with over 38.7m shares traded.
Volumes were led by:
K-Electric Limited: 36.2m shares traded [+0.71pc];
Engro Polymer and Chemicals Ltd: 10.9m shares traded [-1.58];
Fauji Foods Limited: 10.6m shares traded [+0.95pc];
Fauji Cement Co Ltd: 7.7m shares traded [-2.21pc];
Baluchistan Glass Ltd: 5.1m shares traded [-2.85].