The Pakistan Stock Exchange (PSX) witnessed a sharp profit-taking session on Thursday as its benchmark KSE-100 Index came under heavy pressure after Wednesday’s massive rally.
The index, which had surged over 4,347 points yesterday 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.
Market data 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.
Earlier, Asian stocks dropped in choppy trading while oil rose on Thursday as investors treaded cautiously amid the dizzying pace of developments in the Middle East, with Iran saying it would weigh a US proposal to end the conflict.
The widening war has jolted global markets this month, sending oil prices soaring, reigniting inflation fears and upending global interest rate expectations.