PSX gives up early gains as KSE-100 falls over 600 points

The Pakistan Stock Exchange (PSX) came under pressure on Thursday after giving up its early gains, with the benchmark KSE-100 Index falling more than 600 points by midday.

The index dropped 682.11 points, or around 0.4 per cent, to 167,898.29 during the session. It had opened on a stronger note and climbed to an intraday high of 169,486.60 before selling pressure pushed it lower. The index touched a session low of 167,851.37.

The benchmark had closed at 168,580.40 on Wednesday after a volatile trading session that ended with a modest gain of 120.30 points.

Trading activity remained active, with around 104.43 million shares changing hands by early afternoon. The total value of traded shares stood at approximately Rs8.21 billion.

K-Electric, Cnergyico, Pakistan International Bulk Terminal, Fauji Cement and Maple Leaf Cement were among the most actively traded stocks. Pakistan State Oil remained relatively firm among major companies, while Bank of Punjab came under pressure.

Selling was spread across several major sectors rather than being limited to a single industry. Commercial banks, fertiliser companies, automobile assemblers, technology firms and power stocks mostly traded lower. Oil marketing companies and some cement stocks showed comparatively better performance.

Market sentiment was also affected by concerns over international oil prices and supply disruptions. Brent crude remained above $100 a barrel, while uncertainty surrounding shipping and energy supplies through the Strait of Hormuz continued to weigh on investor confidence.

The KSE-100’s early rise above 169,400 failed to attract sustained buying. Market participants attributed the reversal partly to profit-taking following the previous session’s recovery.

Despite the decline, investors continued to monitor domestic political developments and global energy markets for signals that could influence trading sentiment. The market remained open, leaving room for late-session buying to reduce the losses before the close.