Benchmark index hits record intraday high above 185,890 before late selling pressure limits gains to 470 points
KARACHI: The benchmark KSE-100 Index extended its winning streak on Thursday, closing 470.86 points higher after aggressive profit-taking in the second half of trading erased a substantial portion of the day’s early gains at the Pakistan Stock Exchange (PSX).
The benchmark index settled at 184,520.96 points, up 470.86 points, or 0.26 percent, from the previous close of 184,050.10 points.
The market opened on a strong footing and maintained bullish momentum throughout the morning session, with broad-based buying lifting the KSE-100 Index to a record intraday high of 185,890.52 points as investors accumulated shares across key sectors.
However, sentiment shifted during the afternoon as investors locked in profits following the market’s recent record-breaking rally. The benchmark retreated to an intraday low of 184,214.79 points before selective buying in heavyweight stocks helped the index recover and finish the session in positive territory.
According to market data, United Bank Limited (UBL), Lucky Cement (LUCK), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL) and TRG Pakistan (TRG) were the leading contributors to the day’s advance, collectively adding around 469 points to the benchmark index.
Trading activity remained healthy, reflecting sustained investor interest in the equity market. Total traded volume reached 994 million shares, while the value of traded shares stood at approximately Rs55.7 billion.
The KSE-100 Index recorded an intraday trading range of more than 1,675 points, highlighting heightened volatility as investors balanced fresh buying with profit-taking after recent market gains.
Despite the late-session selling pressure, the market managed to extend its record-setting run, supported by selective accumulation in blue-chip stocks and optimism over improving macroeconomic indicators, easing inflation and expectations of a more accommodative monetary policy.