KARACHI:

The Pakistan Stock Exchange (PSX) closed modestly lower on Friday as investors opted for profit-taking at the end of a robust week, with the benchmark KSE-100 index settling at 145,383, down 264 points, or 0.18%.

The market’s consolidation around the 145,000 level came as the State Bank of Pakistan reported a $72 million drop in foreign exchange reserves to $14.23 billion for the week ended Aug 1 – the third consecutive weekly decline, attributed to external debt repayments, said Arif Habib Ltd Deputy Head of Trading Ali Najib.

Caution prevailed amid rising government bond yields, fresh trade data and monetary policy signals, prompting selective profit-booking. Heavyweights such as Engro Fertilisers, Lucky Cement, Systems Limited, Mari Petroleum and Hubco collectively shaved 39

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