{"id":38528,"date":"2023-12-22T14:31:04","date_gmt":"2023-12-22T14:31:04","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/bears-dominate-psx-as-kse-100-index-loses-nearly-1000-points\/"},"modified":"2023-12-22T14:31:04","modified_gmt":"2023-12-22T14:31:04","slug":"bears-dominate-psx-as-kse-100-index-loses-nearly-1000-points","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/bears-dominate-psx-as-kse-100-index-loses-nearly-1000-points\/","title":{"rendered":"Bears dominate PSX as KSE-100 index loses nearly 1,000 points"},"content":{"rendered":"

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The Pakistan Stock Exchange (PSX) on Friday was dominated by bears that dragged its benchmark KSE-100 index down by nearly 1,000 points.<\/p>\n

According to the PSX website, the KSE-100 index fell by 988.47 points to close at 61,705.09, down 1.58 per cent from the previous close of 62,693.56.<\/p>\n

Saad Bin Naseer, director of Mettis Global, attributed today\u2019s losses to \u201cmutual fund redemptions\u201d and corporate realising of profits.<\/p>\n

\u201cOn the other hand, the activity of foreign inflows slowed down due to the holidays,\u201d he said, noting that the downward spiral was specially visible after the Supreme Court\u2019s decision<\/a> to grant bail to former prime minister Imran Khan.<\/p>\n

On a positive note, Naseer added that the market would perform once again when the corrective stage was over.<\/p>\n

Arif Habib Corporation\u2019s Ahsan Mehanti said stocks had fallen sharply late in the session due to \u201cpre-poll uncertainty and major concerns for surging industrial power tariff to resolve power sector circular debt crises\u201d.<\/p>\n

He further said that \u201cover leverage and high leverage cost at the stock exchange played a catalyst role in bearish close\u201d.<\/p>\n

Mohammad Tahir, head of research at Arif Habib Corporation, said the stock market remained under pressure amid profit-taking, \u201cheating up of the political climate\u201d and the lack of participation from foreign investors due to the holiday season.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The Pakistan Stock Exchange (PSX) on Friday was dominated by bears that dragged its benchmark KSE-100 index down by nearly 1,000 points. According to the PSX website, the KSE-100 index fell by 988.47 points to close at 61,705.09, down 1.58 per cent from the previous close of 62,693.56. Saad Bin Naseer, director of Mettis Global, […]<\/p>\n","protected":false},"author":2,"featured_media":38529,"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\/22170642fec1631.jpg?r=171258","fifu_image_alt":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-38528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-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