Ebb and flow continues in PSX as investors prioritise selling

A day after witnessing the highest steep fall of the year, the Pakistan Stock Exchange (PSX) on Friday saw hide and seek between bulls and bears, with the benchmark KSE-100 index hovering at 107, 463 points initially after gaining more than 1100 points. .It then took a beating by the bears, tumbling by more than 400 points.It must be remembered that massive selling was all the rage in the PSX on Dec 19 (Thursday), with the benchmark KSE-100 Index dragged to close at 106,200 after a historic single-day loss of 4,795 points in the PSX.Market analysts attribute this loss to profit-taking.The 100-Index of the PSX continued with bearish trend on Dec 19 (Thursday), losing 4,795.32 points, a negative change of 4.32 percent, closing at 106,274.98 points as compared to 111,070.29 points on the last trading day.A total of 1,167,361,955 shares were traded during the day as compared to 1,111,921,053 shares the previous trading day, whereas the price of shares stood at Rs 56.797 billion against Rs.60.242 billion on the last trading day.As many as 472 companies transacted their shares in the stock market, 66 of them recorded gains and 371 sustained losses, whereas the share price of 35 companies remained unchanged.