Stocks dip over persistent profit-booking

Stocks dip over persistent profit-booking

Pakistan's stock market extended losses on Friday as investors opted to book profits in the wake of corporate result announcements and ahead of futures contract rollover. Stock selling by mutual funds also played its part in the decline of the market, which lost nearly 1,300 points. Initially, optimism was observed as the benchmark KSE-100 index got off to a positive start, hitting the intra-day high of 165,026 very early. However, it soon took …

Market slips as profit-taking selling weigh on sentiment

Karachi : The Pakistan Stock Exchange closed the week on a sour note as the benchmark KSE-100 index shed 1,286 points on Friday, driven by persistent profit-booking and selling pressure from mutual funds. The downturn followed corporate earnings announcements and came ahead of the futures contract rollover, prompting investors to lock in gains. The session began with early optimism, pushing the index to an intra-day high of 165,026. However, the…