PSX sheds over 5,000 points as profit-taking grips market

KSE-100 slips to near 153,300 level on broad-based selling pressure

KARACHI:

The Pakistan Stock Exchange (PSX) witnessed a sharp profit-taking session on Thursday as the benchmark KSE-100 Index came under heavy pressure after Wednesday’s massive rally.

The index, which had surged over 4,347 points or 2.82% on March 25 to close at 158,313.44 amid easing Middle East tensions and falling global oil prices, erased a significant portion of those gains.

By mid-session, the KSE-100 was trading around the 153,300–154,800 level, reflecting a decline of nearly 3,000 to 5,000 points, or approximately 2–3.17%.

Read: Stocks slide, oil gains with Mideast ceasefire prospects centre stage

Market highlights showed the index touching an intraday high of 157,591.23 before slipping to a low near 153,096.34. Trading volume remained robust, with over 249 million shares changing hands and the total market value crossing Rs19 billion.

The broader market sentiment turned cautious as investors locked in profits following the previous day’s strong performance, which was fueled by positive global cues, expectations of a potential ceasefire in the Middle East, and declining fuel prices.