PSX ends 4-day bull run

KARACHI (Staff Report): The four-day bullish rally at the Pakistan Stock Exchange finally came to an end on Friday as the market closed on a bearish note amid profit-taking.

The benchmark KSE-100 Index closed down by 784 points at 166,409 level, after hitting an intra-day high of 167,339 points. The index touched a low of 166,327 points during the session.

Trading activity remained healthy as 82.55 crore shares worth Rs 23.12 billion changed hands during the day.

Out of 568 companies traded, prices of 300 companies declined, 173 advanced, while 95 remained unchanged.

Analysts said the market witnessed profit-taking after a sharp rally in previous sessions that had taken the index to record highs. Investors opted to book gains ahead of the weekend, leading to pressure on index-heavy stocks.