Profit taking pushed back PSX 925, points closed at 65,204

The Pakistan Stock Exchange (PSX) on Monday began in bearish trend as the benchmark KSE-100 index shed over 925 points, concluded the session at 65,204.68.

The KSE-100 index declined by 925.35 points to close at 65,204.67 points, down 1.4 per cent from the previous close of 66,130.02.

The index traded in a range of 1,521.68 points showing an intraday high of 66,586.62 (+456.59) and a low of 65,064.94 (-1,065.08) points.The total volume of the KSE-100 index was 963.384 million shares.

The market is believed to be in currently under selling pressure that is expected to persist for some more time. Profit taking was also due, as market grew over 60 per cent current year. The analysts undersatand the index still undervalued and will rise accordingly in months to come.

The KSE-100 gained 23,752 points or 57.3% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 24,784 points, equivalent to 61.32%.