The Pakistan Stock Exchange (PSX) saw a strong reversal on Friday, January 9th as profit‑taking triggered heavy selling across the market, dragging the KSE‑100 Index down by about 1100 points from earlier levels.
The benchmark index opened on a firm note but gave up gains as investors squared off positions, pushing the KSE‑100 Index down approximately 1100 points by closing. The index dropped to its lowest point of the day at 02:46 PM trading at 183,700.83 points and closed at 184,409.67 points, a drop 1,133.34 points, or -0.61%, from the previous close of 185,543.01. Market participants attributed the slide to profit‑booking after recent rallies, which had lifted key stocks over prior sessions.
Activity was broad‑based, with selling pressure observed in major sectors, including banking, oil and gas, and industrial shares, which weighed on the overall performance. Despite the downturn, a handful of stocks recorded gains, but these were overshadowed by losses among heavyweight names that dominate the index.
The pullback comes after several sessions of strong buying momentum earlier in the week, indicating a market correction rather than a sustained reversal in market trend.
