The Pakistan Stock Exchange (PSX) came under selling pressure on Wednesday, erasing early gains as investors turned cautious.
The benchmark KSE-100 Index initially traded in the green on the back of early buying interest, but profit-taking emerged before midday, dragging the market lower. By 1:29pm, the Index had dropped to 167,054.08, down 1,358.15 points or 0.81% from the previous close. Intraday, the Index shed over 1,100 points at its lowest level, reflecting persistent selling pressure.
Declines were broad-based, with major sectors contributing to the downturn. Heavyweight commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), power generation firms, and refineries all traded in the red, weighing on overall sentiment.