Stocks flat as profit-taking erodes early gains
The Pakistan Stock Exchange (PSX) opened the week on a bullish note, briefly crossing the 140,000-point mark, but failed to sustain momentum due to profit-taking. The benchmark KSE-100 index closed marginally higher at 139,380.06, gaining 172.77 points or 0.12 per cent on Monday. Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said another attempt by the PSX to break past the 140,000 psychological barrier on a closing basis went in vain. The session began on a strong note, with the index hitting an intraday high of 140,149 — up 942 points or 0.68pc. However, the rally proved short-lived as selling pressure emerged, pulling the index back below the key threshold. Investor sentiment was buoyed early in the day by Foreign Minister Ishaq Dar’s remarks over the weekend that Pakistan and the United States were “very close” to finalising a trade deal. However, the US side, following Dar’s meeting with Secretary of State Marco Rubio, did not confirm a timeline. If materialised, the agreement could enhance exports, attract investment, and improve market confidence, though any delay may weigh on economic optimism.