The benchmark index briefly surged more than 1,200 points before profit-taking erased the early gains, leaving the market almost unchanged.
The Pakistan Stock Exchange (PSX) witnessed a highly volatile session on Thursday, as the KSE-100 Index initially surged on improved investor sentiment but surrendered almost all of its gains amid late-session profit-taking.
The benchmark index climbed to an intraday high of around 1,279 points, supported by declining international oil prices and renewed hopes of a potential peace agreement between the United States and Iran. The developments encouraged investors to increase exposure to selected stocks during early trading.
However, the bullish momentum failed to sustain as investors began booking profits, particularly following the release of corporate financial results. The selling pressure gradually erased the index’s early gains, pushing the market into negative territory before the close.
The KSE-100 Index touched an intraday low of around 174 points before finally settling at 177,322 points, down 47 points, or 0.03%. The index’s closing level was broadly in line with market data showing a decline of 47.93 points to 177,322.77.
On the positive side, HUBC, ENGROH, POL, UBL and FFC remained among the leading contributors, collectively adding approximately 493 points to the benchmark index.
Meanwhile, NBP, PPL and PSO emerged as the major laggards, collectively shaving around 470 points from the KSE-100 Index and limiting the market’s overall performance.
Market participation remained active throughout the session, with 614 million shares changing hands and total traded value reaching approximately PKR 34.54 billion.
FNEL remained the volume leader, with around 86 million shares traded during the session, according to market data.
The session highlighted the market’s current sensitivity to both global developments and domestic corporate results. While easing oil prices and hopes of geopolitical de-escalation provided support, profit-taking and cautious positioning prevented the bulls from converting early gains into a meaningful advance.