Profit-taking sets in after Pakistan Stock Exchange hits all-time high

The share prices at the Pakistan Stock Exchange (PSX) remained buoyant as the trading session was set in motion on Wednesday morning, smashing another barrier and lifting the index to another historic high but later profit-taking was set in wiping out all the gains of the day, reported 24NewsHD TV channel.

The benchmark KSE-100 index soared by 443.86 or 0.52 percent to 86,107.83 as compared to previous day’s closing of 85,663.68 earlier but at the end of the day the index inched up only by 5.30 points with the index standing at 85,669.27 points..

The positive economic sentiments were further boosted by Prime Minister Shehbaz Sharif’s statement in the federal cabinet that the a Saudi delegation is coming which will sign $2 billion agreements during its visit to Pakistan.

On Tuesday, Pakistan Stock Exchange's KSE-100 shares index had closed at yet another record high of 85,663.97, up 753.68 points or 0.89%, after scaling an intraday peak of 85,807 points.

Reporter Baseem Iftikhar