PSX sheds nearly 1,500 points

The KSE-100 fell 1,493.18 points, or 0.85%, on Friday, closing at 173,886.69 as investors reduced positions before the long weekend, The Express Tribune reported. The decline left the index’s weekly advance at 4.5%, despite a strong start to the week, and selling was concentrated in heavyweight shares.

UBL, LUCK, ENGROH, FFC and PPL together accounted for 606 points of downward pressure, while PSEL, BAHL and SRVI offered limited support. Trading reached 1.48 billion shares, worth Rs22.57 billion, compared with nearly 1 billion shares in the prior session; 277 of 500 traded companies fell, 190 rose and 33 were unchanged. OGDC, MLCF, DGKC and BOP led activity by traded value, while foreign investors sold Rs481 million of shares, according to the National Clearing Company.