PSX edges 120 points higher as profit-taking fuels volatility

The Pakistan Stock Exchange (PSX) struggled to hold early gains on Wednesday as a cautious tone emerged in the latter part of the session, although a late recovery helped the benchmark close marginally higher. It settled 120.30 points, or 0.07%, higher at 168,580.41. The benchmark KSE-100 Index opened in positive territory but turned volatile later in the session as profit-taking erased much of its morning gains. During the session, it hit an intraday high of 169,271.99 and a low of 168,065.87. Market sentiment was influenced by continued hopes of renewed talks between the government and the Pakistan Tehreek-e-Insaf (PTI), although the opposition party has so far described Prime Minister Shehbaz Sharif's proposal as a "mere offer" and called for a formal approach to its parliamentary leaders. The prospect of political engagement provided some support but failed to prevent the market from...