Stocks flat after hitting new intraday highs
Business
December 16, 2020
Stocks on Tuesday staged a stellar show that flopped near the end as investors stampeded to book profits after global oil and equity rout hit the panic button, dealers said.
Pakistan Stock Exchange’s (PSX) benchmark KSE-100 shares index lost 0.04 percent or 15.38 points to close at 43,250.84 points, while volumes increased to 702.210 million shares, as compared with 629.525 million on Monday. KSE-30 also hit a low of 0.27 percent or 47.97 points to end at 18,040.70 points level.
Ovais Ahsan, chief executive officer at Optimus Capital Management said the market closed slightly in the negative zone as profit-taking clipped intraday gains.