Stocks falter after crossing 126,500-point barrier
After reaching an unprecedented peak above 126,500 in early trade on Thursday, the Pakistan Stock Exchange (PSX) suffered marginal losses as investors opted to take profits at inflated levels towards the end of the session, forcing the benchmark KSE 100 index to close in the red. Ali Najib, Deputy Head of Trading Arif Habib Ltd, said the market witnessed a dramatic session on Thursday, with the KSE-100 index closing at 124,093.12, down 259.56 or 0.21 per cent day-on-day. The day began on a strong note, carrying forward Wednesday’s bullish momentum as the index surged to an intraday high of 126,718.28, decisively breaching the psychological barriers of 125,000 and 126,000 in one go. However, profit-taking in the latter half of the session erased early gains, dragging the index back into negative territory.