PSX loses 288 points

The Pakistan Stock Exchange (PSX) share prices lost pace on Tuesday due to profit-taking after setting record after record.

The KSE-100 index increased by 1,132 points on Monday, reaching a new all-time high of over 56,523, but the equities were unable to continue their epic run.

Tuesday saw a change in circumstances as profit-taking caused the index to drop by 288 points to 56,234.

The Index had a 2.04% increase on Monday, breaking above the psychological 56,000 thresholds for the first time in its history and closing at its highest point ever, 56,523.58 points.

The index hit 56,583.59 points intraday highest ever level, however closed at slightly lower level due to profit-taking in some stocks.

The entire daily traded value on the ready counter grew to Rs22.409 billion from the previous session's Rs21.146 billion, indicating significant improvement in trading activity on Monday. Daily volumes on the ready counter increased to 660.649 million shares, compared to 640.836 million shares traded last Friday.