Profit Pockets Emerge on PSX: KSE-100 Retreats After Record-Setting Week
The Pakistan Stock Exchange (PSX) witnessed a correction on Monday after a record-breaking week, as investors opted for profit-taking. The benchmark KSE-100 Index started the day positive, reaching an intra-day high of 67,304.37. However, selling pressure emerged later in the session, dragging the index down.
At close, the KSE-100 settled at 66,796.32, reflecting a decrease of 208.79 points or 0.31%. This follows Friday’s session, which also saw a slight decline after the index achieved a record high.
Market Highlights:
- KSE-100 Index closes down 0.31% at 66,796.32.
- Profit-taking was observed after the previous week’s record highs.
- P.I.A.C.(A), Agritech Limited, and P.T.C.L. were the volume leaders.
- Overall market participation dipped with lower trading volumes.
Analyst Insight:
The correction on Monday is attributed to profit-taking by investors who locked in gains after a strong performance last week. The market may see some consolidation in the coming days as investors assess future direction.
Looking Ahead:
Despite the correction, the PSX remains on a positive trajectory overall. Investors are likely to remain cautious in the short term but will continue to monitor economic developments and corporate earnings reports for future investment decisions.