{"id":38120,"date":"2023-12-21T14:14:06","date_gmt":"2023-12-21T14:14:06","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/shares-at-psx-lose-another-245-points-on-profit-taking\/"},"modified":"2023-12-21T14:14:06","modified_gmt":"2023-12-21T14:14:06","slug":"shares-at-psx-lose-another-245-points-on-profit-taking","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/shares-at-psx-lose-another-245-points-on-profit-taking\/","title":{"rendered":"Shares at PSX lose another 245 points on profit-taking"},"content":{"rendered":"

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Bears continued to weigh on the Pakistan Stock Exchange (PSX) on Thursday as the benchmark index extended losses for a fourth consecutive session this week.<\/p>\n

According to the PSX website<\/a>, the KSE-100 index declined by 513.19 points at 2:30pm to stand at 61,934.82, down 0.82 per cent from the previous close of 62,448.01 points.<\/p>\n

The index limped to recovery and managed to close at 62,693.56 points, down by 245.55 points or 0.39pc from Wednesday\u2019s close.<\/p>\n

On Tuesday, the benchmark of representative shares posted the second-biggest overnight fall in its 32-year history. Analysts had attributed the losses to continuous profit-taking and deleveraging of equity positions by investors ahead of the end of the calendar year.<\/p>\n

Speaking to Dawn.com<\/em> today, Shahbaz Ashraf, chief investment officer at FRIM Ventures, said the market was in red due to investors squaring their future positions coupled with selling from mutual funds to book profits.<\/p>\n

Sana Tawfik, deputy head of research at Arif Habib, said the market\u2019s profit-taking and correction phase was continuing.<\/p>\n

\u201cWhat we are looking at is correction which was overdue. The index was trading in the positive zone for a few weeks and months and there comes a point where those who have bought will want to realise their profits and therefore they will sell,\u201d she explained.<\/p>\n

\u201cSecondly, the financing rate \u2014 the leverage financing \u2014 is also high. There are talks of 30pc plus. So a number of factors contributed to a negative sentiment,\u201d Tawfik added.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Bears continued to weigh on the Pakistan Stock Exchange (PSX) on Thursday as the benchmark index extended losses for a fourth consecutive session this week. According to the PSX website, the KSE-100 index declined by 513.19 points at 2:30pm to stand at 61,934.82, down 0.82 per cent from the previous close of 62,448.01 points. The […]<\/p>\n","protected":false},"author":2,"featured_media":38121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2023\/12\/21143723a81f1ff.jpg?r=143842","fifu_image_alt":"","footnotes":""},"categories":[192],"tags":[],"class_list":["post-38120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-islamabad-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t