PSX slips as investors book profits after four-day rally

PSX slips as investors book profits after four-day rally

The Pakistan Stock Exchange (PSX) turned negative by midday on Thursday as investors booked profits following four consecutive sessions of gains.

The benchmark KSE-100 Index fell 473.78 points, or 0.28%, to 171,758.73. The index had closed at 172,232.51 on Wednesday after gaining around 830 points.

The market opened on a positive note and climbed to an intra-day high of 172,491.16 before selling pressure pushed the index lower. It touched a session low of 171,628.14.

By midday, around 159.25 million shares changed hands on the exchange, with the traded value reaching approximately Rs8.51 billion.

Investors appeared to consolidate recent gains while awaiting clearer signals from the International Monetary Fund (IMF) review and developments in international oil prices. Market sentiment has remained sensitive to shifts in Gulf diplomacy and their potential impact on energy markets.

Commercial banks, fertiliser companies and several major index-heavy stocks faced selling pressure after leading the previous session’s advance. Oil and gas stocks showed mixed performance.

Brokers described Thursday’s decline as a pause following the market’s sharp rise on Wednesday. Trading remained active as investors assessed fresh developments and looked for new catalysts.

The market will continue trading until the close, with investors closely watching whether buying interest returns to major stocks in the remaining session.