A day after historic buying, volatility was observed at the Pakistan Stock Exchange (PSX) during the trading session on Thursday, with the benchmark KSE-100 Index closing with a loss of nearly 300 points.
Range-bound trading was observed for most part of the day, with the index hitting an intra-day high of 166,962.17 and an intra-day low of 161,993.00. At close, the benchmark index settled at 165,517.51, down by 293.50 points or 0.18%. “The downward pressure on the index was primarily driven by index-heavy stocks, with BAHL, MARI, HUBC, FFC, and MCB emerging as key laggards, collectively eroding 809 points from the benchmark,” brokerage house Topline Securities said in its post-market report. Conversely, selective buying interest in UBL, LUCK, and FCCL provided partial support, contributing a cumulative 568 points and aiding the index in recovering a portion of its intraday losses, it added. On Wednesday, the KSE-100 Index surged by an unprecedented 14,137.55 points or 9.32 percent to close at 165,811.01 points.