Pakistan Stock Exchange (PSX) witnessed a sharp downturn of 323 points on Thursday after scaling 629 points in the morning session, as profit-taking erased early gains and pushed the benchmark index deep into negative territory, reported 24NewsHD TV Channel.
The KSE-100 Index fell 1355 points to 149235 at the closing time, marking one of the steepest intraday losses in recent months. Earlier in the day, the index had crossed the milestone of 151,000 points for the first time in history, extending a week-long rally.
Market experts said the selling pressure was largely driven by profit-taking after consecutive record-breaking sessions. On Wednesday, the PSX had closed at a record 150,591 points, gaining 820 points in a single session.
Regional markets offered a mixed picture. Japan’s Nikkei retreated 0.6% from its record peak, while South Korea’s KOSPI rebounded 0.9% after recent losses. Mainland Chinese blue chips rose 0.5%, while Hong Kong’s Hang Seng traded flat.