PSX under pressure as index sheds 214.07 points

The Pakistan Stock Exchange (PSX) continued a bearish trend since the announcement of the interest rate hike by the State Bank of Pakistan (SBP).

The KSE-100 benchmark opened the trading in red at 42,365.11 points on Friday morning, which was then raised to 42,419.27 points.

An early rally of around 77.67 points saw the index rise to the day’s high of 42,471.19 points.

However, the index then continued losing the ground as it fell by 214.07 points to 42,179.45.

Amongst the sectors pushing the benchmark KSE-100 index downwards included the technology and communication sector, showing a negative change of 71.49 points.

DFML became the volume leader by 3.00% change.

Earlier on Thursday, the KSE-100 index ended the trading session at 42,393.52 points from the previously closed value of 42,348.63 on Wednesday.