The Pakistan Stock Exchange (PSX) witnessed a sharp decline on Thursday as heavy profit-taking triggered widespread selling. The benchmark KSE-100 index fell by more than 2,750 points during intraday trading. The downturn erased earlier gains and pushed market sentiment into negative territory.
The index initially touched an intra-day high of 171,561 points before reversing sharply. However, selling pressure intensified soon after the opening session. By midday, the KSE-100 had dropped to 168,828 points, reflecting a decline of 1.6 percent from the previous close.
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Market analysts attributed the fall to technical correction after a strong bullish run. They said investors opted to book profits following record highs earlier in the year. The shift indicates a temporary cooling phase in market momentum. Institutional investors were also seen adopting a cautious stance.
Trading activity remained strong despite the decline, with over 211 million shares traded. The total value of shares exchanged stood at around Rs11.46 billion. Key pressure came from banking, cement, and energy stocks, which had previously led market gains.
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Analysts said the market may remain volatile in the short term. They added that late-session buying could stabilize losses if value investors step in. Overall sentiment reflects uncertainty after sustained upward movement in recent months.