PSX: KSE-100 gains 120 points after volatile trading

Business Recorder reported that the Pakistan Stock Exchange ended a choppy Wednesday session with the KSE-100 index 120.30 points higher, up 0.07%, at 168,580.40. The benchmark had slipped to an intraday low of 168,065.86 before climbing to 169,271.98 in the afternoon. Late-session profit booking, however, wiped out most of those advances, although the index edged up again near the close.

Topline Securities said cautious trading reflected firmer international oil prices, which kept investors watchful. UBL, SYS, PSO, PTC and KEL were the major gainers, contributing 300 points to the index. MARI, MEBL, LUCK, HUBC and OGDC were the major laggards, eroding 187 points, while volume rose to 586.86 million shares worth Rs22.37 billion.

Elsewhere, the rupee gained Rs0.03 against the dollar to close at 277.02 in the interbank market. Asian shares were slightly weaker even as US stocks touched new highs, and US crude rose 1.05% to $90.38 a barrel.