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Bears pull PSX down 204 points

Karachi: According to a recent report, the Bears have taken charge of the Pakistan Stock Exchange (PSX) on the first trading session of the week, with a benchmark of 200 points.

Read More: Stocks close lower as investors book profits

The benchmark KSE-100 Index swayed both ways on Monday, registering its intraday high at +116.56 points and low at -216.83 points. It finally settled lower by 204.32 points.

According to the report issued by Arif Habib Ltd, “The market moved within a narrow range today, with profit booking mainly observed in exploration & production, fertilizer, oil & gas marketing, cement and banking sectors. Regression in international crude prices became the reason for negative sentiment in the E&P sector, while continuous foreign selling pulled the fertilizer stocks down. Investors, in part, also saw the Election Commission’s upcoming decision regarding foreign funding case as a reason for booking profit,”

Read More: Listing of EPCL preference shares marked in PSX Gong Ceremony

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