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PSX: selling engulfs bourse, KSE-100 sheds over 2,200 points
After days of buying momentum, selling returned at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 2,200 points during the opening minutes of trading on Friday. At 9:40am, the benchmark index was hovering at 173,146.07, down 2,233.79 points or 1.27%. “We expect the market to witness some profit-taking today following the recent rally, as investors may prefer to book gains ahead of the long weekend,” said Ismail Iqbal Securities in a post. The brokerage house noted that persistent geopolitical uncertainties and an apparent stalemate in ongoing peace negotiation...
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