PSX edges up 120 points amid profit-taking
The Pakistan Stock Exchange (PSX) saw a marginal gain of 120 points on Wednesday, despite volatility caused by profit-taking and concerns over rising global oil prices. Market sentiment remains cautious due to political uncertainty and economic risks associated with oil imports.
Why it matters
The market's performance highlights the vulnerability of Pakistan's economy to global energy price fluctuations and domestic political instability.
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Pakistan Stock Exchange (PSX) struggled to hold on to early gains on Wednesday as a cautious tone emerged in the latter half, but still late recovery helped the benchmark index close marginally higher.
The KSE-100 index opened in positive territory but turned volatile later, when profit-taking erased most of the morning gains. It settled 120.30 points, or 0.07%, higher at 168,580.41 after hitting the intra-day peak of 169,271.99 and the low of 168,065.87.
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