KARACHI: The Pakistan Stock Exchange (PSX) closed the week on a negative note as the bears and bulls locked horns to take charge of the bourse in the absence of major positive triggers that could provide direction to the market.
Investors reacted with panic to the depreciating Pakistani rupee against the US dollar and political uncertainty in the wake of the upcoming by-polls in Punjab.
The benchmark KSE-100 index kicked off trading on a positive note, however, bears soon took charge of the bourse, which then stayed in the red for the rest of the trading session. Selling pressure intensified in the second half of the session.
At close, the benchmark KSE-100 index closed at 42,074.91 points with a decrease of 274 points or 0.65%.