KARACHI: Amid growing political and security uncertainty, the stock market ignored positive economic news and underwent massive pruning as panicky investors indulged in aggressive selling in the outgoing week.

However, in highly volatile trading during the weekend session, the bulls managed to end the four-session losing streak on the back of last-hour institutional value-hunting across the board.

Arif Habib Ltd (AHL) said the market faced consistent pressure throughout the week, with the index closing at 113,247 points. The decline was attributed to several factors, including profit-taking by institutional investors, political uncertainty and new tax amendments imposing restrictions on non-filing PSX investors.

On the economic front, several positive developments were observed, such as the World Bank set to approve a $20 billion lending package and the UAE rolling over $2bn........

© Dawn Business