Pakistani stocks finish flat on profit-booking

KARACHI: The profit-takers brought Karachi Stock Exchange (KSE) down to an absolutely flat end here on Monday, Geo News reported.

By the time the traders called it a day, the benchmark KSE-100 Index with a loss of just 0.01 percent, or 1.20 points, closed lower at 17,961.91 points.

The market crossed the key psychological 18,000-point level during the intra-day trade, drawing strength from the appointment of caretaker prime minister.

Analysts say Mir Hazar Khan Khoso’s assumption of interim prime minister office came as a sentiment booster.

They added that it was a sign of political calm, so what if till May 11 general elections.

Another analyst said after topping the 18,000 mark the market witnessed low volumes, which led to profit-taking.

Today mostly mid cap stocks remained in focus, he added.

Among the star performers today were Engro Corporation Ltd, which rose 1.14 percent to 130.79 rupees, and Nishat Mills Ltd that fell by 1.15 percent to 83.48 rupees.