Stocks observe fluctuation amid political uncertainty.

KARACHI -- The Pakistan Stock Exchange (PSX) in the outgoing week closed observed fluctuations and closed in a little bit of negative territory amid political uncertainty that marred the overall trading environment while kept investors' sentiment subdued.

However, the signing of a phase one trade deal between the U.S. and China to ease the ongoing trade war restored a bit of confidence among the investors.

Domestic politics and rising reservations against the ruling party by its allies were also noticed by the investors.

On a weekly basis, the benchmark KSE 100-share Index dropped by 39.28 points as yesterday the Index ended at 43,167.77 points as compared to last Friday's 43,207.05.

Yesterday, the Index opened at 43,093.16 points and the Index managed to close with gains of 102.67 points or 0.24 per cent at 43,167.77 as the stock market took investors on a roller- coaster ride on the last trading day of the week where the volatility intensified in the second session.

Traders yesterday opined that the market was still in search of a direction, which could be provided by the State Bank monetary policy and the herald of corporate results reporting season next week.

On Thursday, the overall trading volumes jumped to 229.9 million shares compared with Wednesday's tally of 171.3 million. The value of shares traded during the day was Rs6.5 billion. The Index opened on a positive note but tumbled soon after and hit an intra-day low of 42,805.73 points amid lack of positive triggers and prevailing negative sentiments among investors due to rising political noise between the political parties. However, recovery was quick as the index managed to power past the 43,000 mark.

On Wednesday, the PSX witnessed bearish trend and closed at 42,993 points as compared to 43,207 points on Tuesday with the negative change of 214 points (0.5 %). A total of 119,954,170 shares were traded compared to the trade of 151,124,910 shares during the previous day, whereas the value of shares traded during the day stood at Rs5.164 billion as compared to Rs6.48 billion during last trading day.

Total 345 companies Wednesday transacted shares, out of which 113 recorded gain and 213 sustained losses whereas the share price of 19 companies remained unchanged.

On Tuesday, the market lost just 11.63 points, and closed at 43,207 points as compared to Monday's 43,218 points. A total of 151,124,910 shares were traded, whereas the value of shares traded during the day stood at Rs6.48...