The Pakistan Stock Exchange (PSX) lost early gains on Thursday as investors booked profits amid caution over futures rollover. The benchmark KSE-100 index opened strong, reaching an intra-day high of 139,868 points but reversed course by midday. Selling pressure dragged the index down to an intra-day low of 138,614.
By market close, the KSE-100 settled at 138,692.67, down 561.69 points or 0.40%. Analysts attributed the decline to profit-taking in heavyweight stocks ahead of upcoming corporate earnings announcements. Market sentiment remained cautious due to the ongoing rollover week, which tends to increase volatility.
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Key sectors like banking, fertiliser, and energy faced selling pressure. Fauji Fertiliser, Habib Bank, Engro Holdings, Mari Petroleum, and Engro Fertilisers alone shaved 506 points off the index. Conversely, Hub Power, MCB Bank, and Systems Limited provided some relief, adding 204 points collectively.
Trading volumes dipped slightly to 648.8 million shares compared to Wednesday’s 656.6 million. The total traded value was Rs28.1 billion. Out of 484 companies traded, 182 closed higher, 273 fell, and 29 remained unchanged. The Bank of Punjab led volumes with 113 million shares traded, closing at Rs13.55.
Market experts expect choppy movements to continue as rollover pressures persist. Selective stock interest will likely drive short-term trends as investors remain cautious amid earnings season.