The Pakistan Stock Exchange (PSX) on Tuesday jumped to a historic high — shooting past 54,000 points — but dropped at close, ending its days-long winning streak.
The KSE-100 index touched its all-time high of 54,278 — in line with its winning streak — after the opening bell. However, profit-taking pulled the market down and it lost 124.63 points or 0.23% to close at 53,735.73 points, down from yesterday’s close of 53,860.36 points.
It was followed by Pak Refinery with 36.2 million shares, losing Rs1.63 to close at Rs21.67 and Kohinoor Spining with 34.7 million shares, losing Rs0.2 to close at Rs2.33.
On the other hand, the rupee maintained its downward trend on the twelfth consecutive working day and reached a five-week low at Rs287 against the greenback around mid-day due to a surge in demand for the foreign currency.
The local currency reduced significantly by Rs1.71 in intra-day trading to Rs287 compared to Monday’s close at Rs285.29/$.
