The Pakistan Stock Exchange (PSX) endured a volatile session on Thursday as investors engaged in profit taking after multiple bullish sessions, resulting in the benchmark KSE-100 Index closing at 185,543.01 points, down 975.70 points or 0.52% for the day. The index opened on a strong note and even touched an intraday high of 187,905.16 points, gaining as much as 1,386.45 points during early trade, before losing momentum and slipping to an intraday low of 185,199.36 points, marking a day range of 2,705.80 points. Despite the negative close, overall activity remained strong, with the KSE-100 registering a turnover of 576.35 million shares, reflecting active participation from both retail and institutional investors.

Market breadth remained mixed as 46 constituents of the benchmark index advanced, 53 declined and 1 remained unchanged, indicating selective buying interest even as major sectors faced selling pressure. Leading gainers during the session included AICL, SHFA, PAEL, HALEON and THALL, all of which recorded healthy price appreciation and contributed to limiting the benchmark’s downside. However, the selling pressure in index heavyweights overshadowed these gains, with ENGROH, YOUW, MEBL, PTC and SEARL featuring among the top decliners.

Negative point contributions from large commercial and technology names weighed heavily on the index, with ENGROH, UBL, MEBL, SYS and PPL collectively dragging the benchmark sharply lower. On the other side, positive contributions were seen from AICL, NBP, PAEL, FFC and MARI, which somewhat softened the index’s decline. Sectorally, commercial banks led the downside followed by investment companies, technology & communication, cement and oil & gas marketing companies. Meanwhile, insurance, cable & electrical goods, automobile parts, pharmaceuticals and refinery sectors provided pockets of support.

The broader market also reflected similar sentiment as the All-Share Index settled at 110,883.94 points, down 234.71 points or 0.21%. Market participation stayed elevated with total volume rising to 1,433.99 million shares compared to 1,329.49 million in the previous session, while traded value increased to approximately Rs91.34 billion, up by Rs4.75 billion. A total of 643,944 trades were executed across 481 listed companies, out of which 209 closed higher, 245 declined and 27 remained unchanged, highlighting a balanced yet cautious trading environment.

Despite the day’s pullback, the KSE-100 Index maintains a strong cumulative performance, having added 59,916 points or 47.69% during the ongoing fiscal year, while its gains so far in the current calendar year stand at 11,489 points or 6.60%. Analysts note that while profit-taking at higher levels is natural, investor interest remains intact amid improving economic signals and strong sector-specific catalysts.