PSX hits 120,000 barrier to reach record high in intraday trade before losing gains

The Pakistan Stock Exchange (PSX) continued last week’s renewed momentum and crossed the 120,000-point barrier to reach a record high during intraday trade on Monday before losing its gains to settle a little below. The benchmark KSE-100 index climbed 636.4 points, or 0.53 per cent, to stand at 120,285.54 points from the previous close of 119,649.14 points at 9:33am. However, it witnessed fluctuation, dropping to 119,426.44 points at 11:44am, 222.70 points lower than the last close. The market subsequently closed at 119,689.63 points, 40.49 points higher, or 0.03pc. After the Pakistan-India ceasefire relieved investors’ worries, the PSX recorded a historic rebound last week as the KSE-100 Index gained 12,474 points to settle at 119,649 on Friday.