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Friday, January 31, 2025  
01 Shaban 1446  

PSX’s benchmark index declines 1,400 point during intraday trading

Energy stocks with significant index weight were trading lower
Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. Reuters
Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. Reuters

The Pakistan Stock Exchange’s (PSX) experienced a decline as the benchmark index lost 1,400 points during the intraday trade.

The benchmark index stood at 112,108.67, reflecting a drop of 1,411.65 points, or 1.224% at 11:45am.

Energy stocks with significant index weight, such as HUBCO, MARI, OGDC, PPL, PSO, SHEL, SSGC, and SNGPL, were trading lower.

This comes despite a decrease in the policy rate on Monday.

“The Monetary Policy Committee after a detailed discussion has decided to bring down the policy rate from 13% to 12%,” SBP Governor Jameel Ahmed said while addressing a press conference in Karachi.

The KSE-100 index of the PSX saw a bearish trend on Monday, losing 1,360.16 more points, a negative change of 1.18%, closing at 113,520.32 points as compared to 114,880.49 points on the last trading day on January 27.

Bitcoin experienced a significant drop shortly after trading began on January 25, with its price falling to $104,801, a decline of $82 from the previous close of $104,883.70.

Read more

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