Share prices run out of steam at Pakistan Stock Exchange
Stay tuned with 24 News HD Android App
After making record after record, the share prices ran out of steam at Pakistan Stock Exchange (PSX) on Tuesday amid profit-taking, reported 24NewsHD TV channel.
The stocks could not sustain Monday’s marathon run when the KSE-100 index rose by 1,132 points to a new historic high of above 56,523.
The things were different on Tuesday as profit-taking sets in taking the index down by 288 points to 56,234.
On Monday, the Index had surged by 2.04 percent and crossed 56,000 psychological level for the first time in its history and closed at highest ever level of 56,523.58 points. The index hit 56,583.59 points intraday highest ever level, however closed at slightly lower level due to profit-taking in some stocks.
Trading activity further improved on Monday as daily volumes on ready counter increased to 660.649 million shares as compared to 640.836 million shares traded on last Friday while total daily traded value on ready counter increased to Rs22.409 billion against previous session’s Rs21.146 billion.
Reporter Ayaz Rana