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Stocks took another dive on Friday as worries set off by an estimated Rs900 billion flood-led losses to the economy washed out more gains amid grim outlook reports, traders said.Country’s main.
Business
December 17, 2020
Stocks on Wednesday ended tad higher as profit-selling in technology and refinery sectors overwhelmed an energy rally, whereas cements that succumbed to selling pressure after cartelisation reports also did a good deal of damage, dealers said.
Pakistan Stock Exchange (PSX) benchmark KSE-100 shares index gained 0.25 percent or 109.35 points to close at 43,360.19 points level.
Volumes decreased to 433.020 million shares from 702.210 million on Tuesday. KSE-30 was 0.34 percent or 60.92 points up to end at 18,101.62 points level.
Topline Securities in a note said stocks moved in a range 372 points throughout the day. Cements turned out to be the major laggards on Wednesday following the news that CCP (Competition Commission of Pakistan) has reportedly found evidence against northern manufacturers’ involvement in cartelisation, the brokerage said.