KARACHI: The Pakistan Stock Exchange (PSX) came under renewed selling pressure on Thursday, with the benchmark KSE-100 Index declining 1,421.85 points, or 0.86%, to 164,509.13 by midday.
The decline wiped out the gains recorded during the previous session, when the benchmark index closed at 165,930.98 after rising 779 points on Wednesday.
The market opened near its intraday high of 166,180.32 before moving lower to reach a session low of 164,186.90. Trading was still underway at the time of reporting.
Major Sectors Face Selling Pressure
Selling activity was visible across several heavyweight sectors, including oil and gas exploration, oil marketing companies, power generation, cement, automobile assembly and refineries.
Major index contributors, including Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Mari Energies (MARI), Hub Power Company (HUBCO), Pakistan State Oil (PSO), Habib Bank Limited (HBL) and United Bank Limited (UBL), were trading lower.
The broad-based decline reflected cautious investor sentiment following Wednesday’s recovery.
Trading Volume Reaches 60.55 Million Shares
By midday, trading volume stood at 60.55 million shares, with the total traded value reaching Rs5.11 billion.
The index remained close to its session low during the early afternoon, indicating continued pressure on the benchmark.
PSX Struggles to Recover as Selling Pressure Weighs on KSE-100
Wednesday’s rebound had been supported by selective institutional buying and optimism surrounding diplomatic efforts to ease tensions between the United States and Iran, alongside developments related to the draft Auto Policy.
However, selling pressure returned on Thursday, reversing the previous session’s upward movement.
Investors Watch Market Direction
Market participants will be watching the remaining trading hours for signs of stabilisation or further losses.
The index’s closing level, trading activity and performance of heavyweight stocks will help determine whether the market can recover from its midday decline or extend its losses.
As trading was still in progress, the final performance of the KSE-100 Index remained uncertain.
