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Bearish spell on PSX, index dips 555 points
KARACHI: The stock market saw heavy bleeding for the third consecutive session on Thursday. The KSE-100 index suffered a loss of 554.81 points (1.08 per cent) to close at 50,957 points.
The cumulative index losses in the last three days stood at 1,890 points. Market participants who tried to calm the investors mentioned that the index opened on a positive note on Thursday with intraday gains of 59 points.
Analysts said the mid-day heavy-selling was triggered by the sell-off on the global markets. The index hit intraday low of 636 before bouncing back slightly. Foreign investors sold-off equity worth $6.88 million.