KARACHI: The Pakistan Stock Exchange (PSX) witnessed sharp volatility on Tuesday as the benchmark KSE-100 Index retreated after touching an all-time high during early trading.
The market opened on a strong note, with the KSE-100 Index surging by 1,346 points to reach a historic peak of 183,754 points, reflecting continued investor optimism following recent bullish sessions.
However, the momentum could not be sustained. Profit-taking set in later in the session, pushing the market into negative territory. The index slipped by 606 points initially and later extended losses to 853 points, falling to 181,555 points.
Market analysts attributed the downturn to profit-booking after the index’s rapid climb to record levels, noting that such corrections are common following sharp rallies.
A day earlier, the PSX had recorded a remarkable performance, with the KSE-100 Index gaining 4,210 points to cross the psychological barrier of 183,000 points for the first time in history. Despite intraday fluctuations, the market closed on Monday at 182,408 points.
Despite Tuesday’s pullback, overall investor sentiment remains positive, supported by expectations of economic stabilization and increased institutional participation in the equity market.
