The Pakistan Stock Exchange (PSX) experienced a volatile day on Thursday, with the benchmark KSE-100 index ending in negative territory despite early gains.
In the first half of the session, the index touched an intra-day peak of 151,250 points, buoyed by strong buying interest. However, the optimism was short-lived. Political news surrounding former prime minister Imran Khan’s bail in May 9 cases weighed heavily on sentiment, sparking a broad wave of selling. The market slid to a low of 148,273 before closing at 149,235 points, down 1,356 points, or 0.90%.
According to analysts, key sectors including commercial banking, cement, and fertiliser bore the brunt of selling pressure. Collectively, they contributed over 1,100 points to the index’s losses. Observers added that profit-taking also played a role after the market’s three-day winning streak.
Despite the setback, some market experts remained positive about the long-term outlook. They highlighted that falling interest rates, coupled with improvements in the currency market, could support equities in the weeks ahead. The KSE-100 has already delivered close to a 29% return so far this year, reflecting investor interest in Pakistan’s capital markets.
Trading volumes surged to 1.1 billion shares, compared with nearly 668 million in the previous session. Market value stood at Rs55.8 billion. Among the 480 companies traded, 130 advanced, 323 declined, and 27 remained unchanged. Fauji Foods emerged as the most active stock with 62 million shares changing hands.