ISLAMABAD, June 27 (TNF): The Pakistan Stock Exchange (PSX) witnessed a sharp correction on Thursday, with profit-taking wiping out gains made earlier in the week as the benchmark KSE-100 Index shed 715.18 points, or 0.58%, to close at 122,046.46.
The index opened on a positive note, climbing to an intraday high of 123,417.87 — up 656.23 points — before persistent selling pressure turned the market negative by mid-session. The benchmark touched an intraday low of 122,142.42 before ending the day slightly higher than its bottom. The trading range spanned 1,275.45 points, highlighting market volatility.
The downturn followed two strong sessions, including a 515-point gain on Wednesday and a record 6,079-point surge on Tuesday driven by regional de-escalation and renewed investor optimism. Thursday’s decline was led by the commercial banking sector, which accounted for a 433.46-point drag on the index, with major names such as BAHL, HBL, and ABL among the top losers.
The cement sector also weighed on sentiment, contributing a negative 167.75 points, followed by technology, power, and fertiliser. In contrast, investment companies, glass and ceramics, and food and personal care products managed to post gains. ENGROH, NATF, and PPL emerged as key contributors on the upside. Out of the 100 KSE-listed companies, 71 closed in the red, 27 advanced, and two remained unchanged or untraded.
Total volume on the KSE-100 reached 244.24 million shares, while aggregate market volume rose to 758.54 million shares from 749.8 million a day earlier. Traded value increased to Rs29.93 billion, nearly Rs2 billion higher than the previous session. The broader All-Share Index shed 336.34 points to close at 76,303.21, down 0.44%.
Analysts attributed the pullback to investors booking profits after the recent rally, with sector-specific concerns over monetary policy and fiscal tightening dampening sentiment. They noted that as the fiscal year-end nears and talks of the next IMF programme intensify, caution may prevail in the short term despite sustained foreign interest and robust volumes.
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