Karachi – The Pakistan Stock Exchange (PSX) witnessed a mixed trading session on Monday, as early gains were eroded by a wave of profit-taking, leaving the market to close marginally higher.
The benchmark KSE-100 index surged by over 900 points in intraday trade, briefly crossing the 140,000 mark, a key psychological milestone. However, investors opted to book profits near peak levels, dragging the index down by the close. The day ended with a modest gain of 172.77 points, or 0.12%, settling at 139,380.06.
According to market analysts, early enthusiasm was fuelled by optimism over potential trade developments with the United States, following remarks from Foreign Minister Ishaq Dar. However, with no formal confirmation from Washington, investor sentiment cooled later in the day.
“This kind of intraday reversal is common when markets are trading at all-time highs,” said one analyst. “Profit-taking near resistance levels is expected unless there’s a strong trigger to sustain momentum.”
Earlier this month, the PSX crossed historical highs driven by strong corporate earnings, improved macroeconomic indicators, and growing interest from institutional investors. But volatility has remained, with short bursts of selling keeping gains in check.
Traders now await clarity on trade negotiations, fiscal reforms, and upcoming economic data, which may provide the next catalyst for sustained upward movement.
This story has been reported by PakTribune. All rights reserved.