KARACHI: The Pakistan Stock Exchange (PSX) experienced a volatile session on Wednesday as the KSE-100 Index dropped 793.56 points, or 0.47%, closing at 166,553.27 amid late-session profit-taking.
After trading within a narrow range for most of the day, the index slipped in the final hours to an intra-day low of 166,230.89. Topline Securities noted the decline was due to investors booking profits following a recent rally, amid mixed sector performance and cautious market sentiment.
Major losses came from FFC, UBL, MCB, HBL, and FATIMA, which collectively subtracted 647 points. Gains in PPL, OGDC, PSX, BOP, and SNGP helped cushion the fall by adding 306 points.
On Tuesday, the index had gained 1,103.93 points, boosted by optimism after the Pakistan-Afghanistan ceasefire agreement.
Globally, markets were pressured by geopolitical uncertainties, including the postponement of a US-Russia summit and unclear prospects for a US-China meeting. Gold prices also retreated sharply after a strong rally.
The Pakistani rupee edged up slightly, closing at 281.05 against the US dollar. Trading volume dropped to 1.57 billion shares, with K-Electric Ltd leading volumes at 241 million shares.
Out of 476 companies traded, 203 gained, 232 declined, and 41 remained unchanged.
