KARACHI: Stocks turned weak yesterday as trading activity dragged along with investors awaiting the State Bank of Pakistan (SBP) Monetary Policy to be announced on Nov 15 (Saturday).
The zigzag pattern of the KSE-100 index on the daily trading chart showed that the investors were unsure of the outcome.
The index however, receded by 97.75 points or 0.31 per cent to close at 31,344.07.
Institutional and individual investors thought discretion to be better part of valour and stayed out of the market, which resulted in decline in volume of shares traded by 23pc and a drop of over Rs3 billion in traded value over the earlier day. Foreign inflow on Friday was in the token sum of $0.38 million as the brokers suggested caution.