KSE-100 continues to make gains despite taking profits – Markets ReadingS


Pakistan Stock Exchange (PSX) witnessed another positive session on Tuesday; The benchmark KSE-100 added 142 points to reach a new high of 56,665.93.

KSE-100 had a positive start to the session but soon moved into negative territory due to profit taking.

However, later in the day, the index saw a strong buying trend and closed the session in the green, up 142 points or 0.25%.

“After extreme volatility, the market managed to close on a positive note today, but good profit taking was seen during the session,” brokerage firm Ismail Iqbal Securities said in its post-market report.

The brokerage firm noted during the session that energy generation and distribution, technology and communications, and automobile assembly sectors remain the main contributing sectors.

On Monday, the KSE-100 Index rose over 1,132 points and crossed the 56,500 level for the first time in its history.

Meanwhile, the Pakistani rupee continued its losses for the 16th consecutive session against the US dollar, depreciating by 0.11% in the interbank market on Tuesday. According to the State Bank of Pakistan, the exchange rate decreased by Re 0.32 to 287.87.

news source (www.brecorder.com)


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