PSX: KSE-100's bullish run ends as market sees selling pressure

The Pakistan Stock Exchange's (PSX) bullish run this week ended on Thursday after the KSE 100 Index saw selling pressure amidst a global decline in stock markets and oil prices.

The benchmark KSE 100 Index lost 336 points, or 0.81%, by the close of trading to reach 41,199.

Close to 348.07 million shares had changed hands by the end of the session, with a total worth of nearly Rs13.3 billion.

Stocks of 374 companies were traded, of which 107 gained in value, 245 declined and 22 remained unchanged.

Volumes were led by Unity Foods Ltd, with 61.3 million shares traded. Pakistan International Bulk Terminal (PIBTL), Maple Leaf Cement Factory Ltd (MLCF), Hascol and TRG closed out the top five symbols traded, with volumes of 56.2m, 44.5m, 43.09m and 23.4m, respectively.

Unity Foods share price was up 3.67%, trading at Rs21.77; PIBTL share price was down 6.30%, trading at Rs13.08; MLCF share price was up 3.45%, trading at Rs40.74; Hascol share price was down 5.90%, trading at Rs15.62; while TRG share price was up 2.01%, trading at Rs49.64.

The KSE 100 Index opened at 41,535 points and the market dipped minutes after trading was opened with the benchmark hitting 41,494 points. However, the market recovered and reached its highest point 41,818 at 10:13am.

Soon after hitting its highest point, the market saw a selling pressure that continued till the end of the day with the market closing at 41,199.