The benchmark KSE-100 index at the Pakistan Stock Exchange (PSX) fell sharply during intraday trading on Thursday, shedding more than 2,000 points after posting a strong recovery in the previous session.
Pakistan Leadership Stresses Unity and Coordination Amid Regional Crisis
The KSE-100 declined by 2,643.02 points, or 1.67 per cent, to 155,670.42 by midday, down from its previous close of 158,313.44, reflecting renewed market volatility.
The downturn follows a robust rally on Wednesday, when the index surged over 4,300 points to close above the 158,000 level. That gain was driven by improved investor sentiment amid hopes of easing geopolitical tensions in the Middle East and softer global oil prices.
During Wednesday’s session, the market touched an intraday high of 158,586 and a low of 155,199, with strong buying activity across key sectors. Analysts attributed the upward momentum to value-hunting and optimism surrounding diplomatic efforts in the region.
Major index contributors to the previous session’s gains included MCB Bank, Fauji Fertiliser Company, Systems Limited, Lucky Cement, and Hub Power Company, which collectively added significant points to the index.
Trading activity remained strong, with volumes reaching approximately 612 million shares and turnover at Rs34.5 billion. Unity Foods led the volumes chart with around 72 million shares traded.
Market analysts noted that despite the previous day’s rally, uncertainty linked to regional developments continues to weigh on investor confidence, leading to sharp intraday corrections.
