Profit-taking and broad-based selling drag the benchmark below 169,000 as investors turn cautious amid global uncertainty.

KARACHI: The Pakistan Stock Exchange (PSX) endured a volatile session on Thursday, with the benchmark KSE-100 Index falling 1,332.47 points as profit-taking and broad-based selling wiped out early gains.

The index closed at 168,636.85, down 0.78% from the previous close of 169,969.32. The market opened higher and briefly crossed the 170,000-point level, reaching an intraday high of 170,688.38 before selling pressure intensified.

The KSE-100 touched a session low of 168,567.78 as investors reduced positions across major index-heavy stocks.

Pakistan Petroleum Limited (PPL), United Bank Limited (UBL), Hub Power Company (HUBC), Oil and Gas Development Company (OGDC) and Fauji Fertiliser Company (FFC) were among the major contributors to the decline, collectively weighing by around 470 points.

Selling pressure was witnessed across several key sectors, including banking, exploration and production, cement and oil marketing companies, reflecting cautious investor sentiment.

Elevated international crude oil prices and continuing geopolitical uncertainty also weighed on market sentiment, encouraging investors to adopt a more defensive approach.

Despite the decline, trading activity remained substantial. The KSE-100 recorded approximately 149.85 million shares in traded volume, with the value of transactions reaching around Rs9.36 billion.

Across the broader market, total trading volume stood at approximately 548.4 million shares, while the overall traded value was around Rs17.1 billion.

The session highlighted the market’s sensitivity to external developments, commodity prices and movements in major index-heavy stocks as investors assessed prevailing risks and the outlook for equities.