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Bearish Trend Prevails at PSX

KARACHI: The bears pulled the benchmark KSE-100 index below the 41,000-point mark as it extended losses for the sixth consecutive session.

A host of robust financial results failed to turn the direction of the market as investors remained cautious ahead of the Federal Reserve meeting tonight which can give a dollar a new direction.

Index-heavy exploration and production, cement, and technology were the major laggards where a modest sell-off was observed.

The session kicked off on a positive note, however, the market failed to sustain the gains due to a lack of investor interest and the index marched downwards. A few attempts made to reverse the direction of the market proved futile and the day ended on a negative note.

At close, the benchmark KSE-100 index closed at 40,965.58 points with a decrease of 255.33 points or 0.62%.