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After reaching unprecedented heights earlier in the day, the Pakistan Stock Exchange (PSX) closed lower on Thursday due to profit-taking by investors.
The KSE-100 Index, which had surged to a record intra-day high of 120,699.17, ended the session at 119,153.04, reflecting a decline of 778.41 points or 0.65%.
The session began with strong bullish sentiment, pushing the index to 120,626.97 points, just below its peak. However, this momentum didn’t last as investors opted to secure profits, reversing earlier gains.
Just a day earlier, PSX had witnessed a sharp recovery. On Wednesday, the KSE-100 index gained 960.33 points (0.81%), closing at 119,931.46, driven by robust investor interest and positive expectations from the upcoming budget.
Large-cap stocks in banking, oil, and energy fueled much of the index’s rise, collectively contributing around 480 points. Refinery stocks also gained traction after the government approved Rs34 billion to settle outstanding dues, paving the way for significant plant upgrades.
In contrast, auto sector stocks came under pressure, particularly Lucky Cement and Standard Chartered, as concerns grew over IMF-backed tariff adjustments and the revised National Tariff Policy.
Trading Volume and Top Movers
Trading activity remained strong, with 667.7 million shares exchanged. K-Electric led in volume with 103.7 million shares traded. Meanwhile, foreign investors offloaded shares worth Rs146.9 million.
Key gainers included:
- National Bank of Pakistan (+10%)
- Bank AL Habib (+2.85%)
- United Bank Limited (+1.22%)
Despite the closing dip, investor sentiment stayed upbeat. Many expect selective trading activity in the days ahead, especially as the market anticipates fiscal policy announcements in the FY26 budget scheduled for June 2.
