PSX ends flat despite hitting peak above 134k

KSE-100 index edges up 33 points as investors book profit at higher valuations

Photo: File

KARACHI:

Pakistan Stock Exchange (PSX) shot up to a new peak above 134,000 points in intra-day trading on Tuesday, but it could not sustain the momentum and closed almost flat.

Investors offloaded their holdings to book profits at sharply higher valuations following a rapid surge in the market over the past few days, during which it repeatedly touched new all-time highs.

In the morning, the bourse kicked off trading on a positive note, but it soon plunged to an intra-day low of 132,696. The benchmark KSE-100 index recovered and continued to fluctuate frequently until midday.

Afterwards, the market began a gradual ascent, surging to an intra-day high of 134,200. Before the end of trading, investors resorted to profit-taking, which wiped out most of the day’s gains.

The KSE-100 index closed higher by just 33.04 points, or 0.02%, settling at 133,403.19.

In its report, Arif Habib Limited (AHL) commented that the PSX saw a flat session on a day-on-day basis, despite rising above 134,000 earlier in the trading session.

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