KSE-100 rises by only 46 points as profit-taking limits gains.

Trading at the Pakistan Stock Exchange (PSX) was volatile on Thursday with the benchmark index initially rising over 400 points but then erasing most of the gains by the day's end.

The benchmark KSE-100 index dipped immediately after trading began, falling to an intraday low of 40,668.95 points, down 89.25 points or 0.22 per cent around 9:30am. However, it started recovering sharply afterwards and reached an intraday high of 41,219.67 points, up 467.41 points, or 1.13pc, around 2:15pm.

Two analysts attributed the rise to interest in energy and cement stocks.

Head of Equity at Intermarket Securities Raza Jafri said energy stocks continued to see interest as the government worked on its plan to resolve circular debt. He added that the cement sector was also lifting the index up on reports that a preferential trade agreement may be signed with Afghanistan which would reduce the price of Afghan coal.

First National Equities Limited Director Amir Shehzad also said the cement sector was behind the rally, which could sustain if the central bank's Monetary Policy Committee decided to maintain the interest rate at its Jan 23 meeting.

Shehzad also attributed the positive...

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