The KSE-100 Index dropped by 778.41 points, or 0.65%, at the close of trading
\n Karachi
\nThe Pakistan Stock Exchange (PSX) experienced a sharp reversal on Thursday, with profit-taking wiping out early gains.
\nThe KSE-100 Index, which had soared to an intra-day peak of 120,699.17, closed at 119,153.04, down by 778.41 points or 0.65%.
\nDespite strong bullish momentum earlier in the session, the market gave back its gains by the end of the day as investors took profits.
\nThe index stood at 120,626.97 points after surging to an all-time high of 120,699.17 earlier today, maintaining a positive tone throughout the session.
\nOn Wednesday, PSX saw a strong recovery, with the KSE-100 index rising by 960.33 points, or 0.81%, to close at 119,931.46.
\nThe rally was driven by active investor participation, bolstered by pro-growth fiscal measures and investor positioning ahead of the upcoming budget presentation.
\nDespite pressure on auto stocks due to the IMF-backed tariff relaxation and revised National Tariff Policy, the overall market sentiment remained positive.
\nLarge-cap stocks, particularly in banking, oil, and energy sectors, contributed significantly to the index\u2019s gains, adding around 480 points.
\nThe refinery sector also saw increased activity after the government approved Rs34 billion in dues clearance for refineries, paving the way for multi-billion-dollar plant upgrades.
\nInvestor sentiment remained optimistic, with some stocks nearing the 120,000-point mark. Key contributors included National Bank of Pakistan (+10%), Bank AL Habib (+2.85%), and United Bank (+1.22%). However, auto stocks like Lucky Cement and Standard Chartered saw declines.
\nTrading volumes surged to 667.7 million shares, with K-Electric leading the volume at 103.7 million shares. Foreign investors sold shares worth Rs146.9 million.
\nOverall, the market remains buoyed by improving macroeconomic indicators, though investor participation is expected to be selective ahead of the FY26 budget announcement on June 2.<\/p>\n","protected":false},"excerpt":{"rendered":"
The KSE-100 Index dropped by 778.41 points, or 0.65%, at the close of trading Karachi The Pakistan Stock Exchange (PSX) experienced a sharp reversal on Thursday, with profit-taking wiping out early gains. The KSE-100 Index, which had soared to an intra-day peak of 120,699.17, closed at 119,153.04, down by 778.41 points or 0.65%. Despite strong […]<\/p>\n","protected":false},"author":2,"featured_media":466983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-480252","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n