{"id":20860,"date":"2023-12-13T12:10:18","date_gmt":"2023-12-13T07:10:18","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=20860"},"modified":"2023-12-13T12:10:42","modified_gmt":"2023-12-13T07:10:42","slug":"stock-market-rises-before-leveling-off","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/stock-market-rises-before-leveling-off\/","title":{"rendered":"Stock Market rises before Leveling off"},"content":{"rendered":"<p>KARACHI: The<a href=\"https:\/\/www.psx.com.pk\/\"> Pakistan Stock Exchange (PSX)<\/a> had a good morning on Wednesday, briefly breaking above the psychological 67,000 mark before dropping to levels similar to those of yesterday.<\/p>\n<p>The benchmark KSE-100 index posted notable gains for the majority of the previous week, but it started the trading week on a negative note.<\/p>\n<p>The index briefly increased above 66,500 points on Monday morning before falling 367 points to hover around 65,855.71 points by 10:30 a.m.<\/p>\n<p>The index recovered the majority of its losses during the day, but it closed 200 points below opening.<\/p>\n<p>Tuesday saw the index return to positive territory. The index began the afternoon at 428 points, up from 66,012.32 points at noon to hover around 66,440.56 points.<\/p>\n<p>After opening at 66,426.78 points on Wednesday, the stock market quickly gained ground, hovering around 67,093.96 points in less than 30 minutes.<\/p>\n<p>The increase was only temporary, though, as by 11 a.m. the market had progressively dropped back to 66,480.81 points. The index was slightly positive overall compared to the opening stage.<\/p>\n<p>Numerous market sectors contributed to the index&#8217;s increase, indicating a general uptick in investor confidence.<\/p>\n<p>Read More:\u00a0<em><strong><a href=\"https:\/\/dailyausaf.com\/en\/pakistan\/psx-hits-new-high-crosses-66500-points.html\">PSX hits new High, crosses 66500 points<\/a><\/strong><\/em><\/p>\n<p>Within the first two hours of trading, close to 300 million shares changed hands.<\/p>\n<p>Due to decreased energy costs and anticipations of the IMF approving the next tranche, the stock market has been tracking the nation&#8217;s overall economic situation.<\/p>\n<p>Investor confidence was further bolstered by the central bank&#8217;s announcement that the policy rate would remain unchanged. One possible explanation for Monday&#8217;s abrupt shock is profit-taking.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI: The Pakistan Stock Exchange (PSX) had a good morning on Wednesday, briefly breaking above the psychological 67,000 mark before dropping to levels similar to those of yesterday. The benchmark KSE-100 index posted notable gains for the majority of the previous week, but it started the trading week on a negative note. The index briefly [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":20861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9,21,2],"tags":[10212,3461,10335],"class_list":["post-20860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest-news","category-news","category-pakistan","tag-business","tag-psx","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/20860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=20860"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/20860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/20861"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=20860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=20860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=20860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}