KARACHI – The Pakistan Stock Exchange (PSX) witnessed wild swings on Thursday as the benchmark KSE-100 Index climbed to a record high of 120,699.17 points during early trading, only to reverse course sharply and close down by 778.41 points at 119,153.04 – a decline of 0.65% compared to the previous session.
The index’s dramatic intraday movement, covering a range of 1,637 points, reflected elevated investor activity and nervous sentiment. After reaching an all-time high shortly after the opening bell, the bullish momentum quickly faded, with sellers dominating the latter half of the session.
Total volume on the KSE-100 stood at 223.28 million shares, indicating strong participation but also heightened volatility. The sharp reversal in the second half of the trading day pointed to possible profit-taking at elevated valuations, as well as a shift in investor sentiment amid macroeconomic uncertainty and upcoming budget-related speculation.
The session ended with a majority of index constituents closing in the red, highlighting broad-based selling pressure. Despite the strong start, the market’s inability to sustain gains underscores investor caution as the benchmark enters uncharted territory.
