The Pakistan Stock Exchange (PSX) closed lower on Thursday as the KSE-100 Index extended its corrective trajectory amid continued profit-taking in major index-heavy sectors. The benchmark settled at 181,456.33 points, down 1,113.48 points, marking a decline of 0.61% compared to the previous session.

Throughout the session, the index displayed heightened volatility, trading within a 2,933.91-point range. Early gains drove the market to an intraday high of 183,717.53 (+1,147.72 points), however, sustained selling pressure dragged the benchmark down to an intraday low of 180,783.62 (-1,786.19 points) before the close. The KSE-100 Index recorded a total volume of 280.78 million shares, reflective of cautious but ongoing market participation.

Market breadth remained negative, as 71 of the 100 index constituents closed lower, 28 advanced, while 1 remained unchanged. Declines were led by sharp losses in select financial and industrial names, including IBFL (-9.89%), SAZEW (-5.68%), PGLC (-5.60%), NML (-3.96%), and PSEL (-3.13%). Conversely, pockets of strength emerged in certain cyclical and mid-cap counters, with ATLH (+7.03%), JVDC (+4.84%), PKGS (+3.18%), PSX (+2.68%), and LOTCHEM (+2.66%) among the notable top gainers.

Index-wise point contributions showed pronounced drag from large financials and industrials. The biggest negative contributors included UBL (-171.97 pts), ENGROH (-146.03 pts), SYS (-113.22 pts), MCB (-99.46 pts), and EFERT (-91.49 pts). In contrast, support came via exploration and property-linked counters such as OGDC (+108.78 pts), PPL (+107.38 pts), ATLH (+49.75 pts), JVDC (+32.63 pts), and PIOC (+28.20 pts).

Sectoral performance further highlighted the downside pressure, led by Commercial Banks (-556.31 pts), Technology & Communication (-122.20 pts), Investment Banks / Securities (-122.16 pts), Cement (-67.82 pts) and Fertilizer (-67.15 pts). Meanwhile, selective support stemmed from Oil & Gas Exploration (+116.56 pts), followed by Property (+32.63 pts), Paper & Packaging (+22.50 pts), Automobile Parts (+11.83 pts), and Leather & Tanneries (+9.12 pts).

The broader market also closed weak, with the All-Share Index settling at 109,182.32 points, down 492.15 points or 0.45%. Total market volumes declined to 820.03 million shares, compared to 1,034.12 million the previous session, while traded value stood at Rs. 45.98 billion, reflecting a contraction of nearly Rs. 19.99 billion on a day marked by lower turnover. A total of 445,267 trades were executed across 482 companies, of which 150 closed higher, 289 declined, and 43 remained unchanged.

Turnover remained concentrated in actively traded retail and speculative counters, led by HASCOL (62.52M shares), MDTL (43.65M), NCPL (36.68M), BOP (29.25M) and BNL (21.66M), indicating sustained retail participation despite market-wide weakness.

Despite short-term volatility, the index continues to show significant improvement over the broader cycle. As of today, the KSE-100 Index has gained 55,829 points (+44.44%) during the ongoing fiscal year, and remains up 7,402 points (+4.25%) during the current calendar year, underscoring underlying investor confidence amid macroeconomic adjustment phases.