{"id":49676,"date":"2024-09-24T16:34:55","date_gmt":"2024-09-24T11:34:55","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=49676"},"modified":"2024-09-24T16:34:55","modified_gmt":"2024-09-24T11:34:55","slug":"shares-at-psx-drops-over-600-points-as-uncertainty-in-power-sector-prevails","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/shares-at-psx-drops-over-600-points-as-uncertainty-in-power-sector-prevails\/","title":{"rendered":"Shares at PSX drops over 600 points as uncertainty in power sector prevails"},"content":{"rendered":"<p>KARACHI: Pakistan Stock Exchange (<a href=\"https:\/\/dailyausaf.com\/en\/business\/psx-witnesses-bullish-trend-following-interest-rate-cut-imf-meeting-date\/\">PSX<\/a>) witnessed a significant drop on Tuesday, with share shedding over 600 points during intraday trading.<\/p>\n<p>The benchmark KSE-100 index declined 622.46 points, or 0.76 percent, settling at 81,214.45 points from the previous close of 81,850.50 points at 12:22 pm. Finally, the index closed at 81,483.64 points,366.86 points or 0.45pc, from the previous close.<\/p>\n<p>Chief Executive of EFG Hermes Pakistan, Raza Jafri, said the market was \u201cnegatively reacting to the recent result misses by state-owned oil exploration companies\u201d.<\/p>\n<p>Additionally, he said that independent power producers (IPPs) were also under pressure on news flow that the government is looking to revise their contracts.<\/p>\n<p>Awais Ashraf, director of research at AKD Securities, said that the threat of \u201cprobable termination or renegotiation of contracts\u201d with the IPPs fuelled the bearish momentum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI: Pakistan Stock Exchange (PSX) witnessed a significant drop on Tuesday, with share shedding over 600 points during intraday trading. The benchmark KSE-100 index declined 622.46 points, or 0.76 percent, settling at 81,214.45 points from the previous close of 81,850.50 points at 12:22 pm. Finally, the index closed at 81,483.64 points,366.86 points or 0.45pc, from [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":40177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3460,3461],"class_list":["post-49676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-pakistan-stock-exchange","tag-psx"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/49676","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\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=49676"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/49676\/revisions"}],"predecessor-version":[{"id":49682,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/49676\/revisions\/49682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/40177"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=49676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=49676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=49676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}