Pakistan Stock Exchange hits record high, nears 97,000 points

The Pakistan Stock Exchange (PSX) experienced profit-taking on Wednesday, with the KSE-100 Index shedding over 300 points during the session.

The trading day began positively, with the benchmark index reaching an intra-day peak of 96,711 in the early hours.

However, the market lost its upward momentum as investors chose to secure profits at available margins.

By the close of the session, the KSE-100 Index stood at 95,546.45, marking a decline of 310.21 points or 0.32%.

Despite the dip, market sentiment remains positive, driven by improving macroeconomic indicators. A significant drop in inflation rates has sparked optimism about further policy rate cuts.

Topline Securities reports that inflation, based on the Consumer Price Index (CPI), is expected to fall below 5% in November, reaching a 78-month low.

Key sectors such as cement, commercial banks, fertilizers, oil and gas exploration, and power generation attracted buying activity. Notable stocks trading in the green included KE, PSO, SHEL, OGDC, PPL, MARI, MEBL, NBP, and HBL.

While the market witnessed profit-taking, the underlying optimism reflects hopes for continued economic improvement and favorable conditions for investors in the coming days.

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