The Pakistan Stock Exchange (PSX) witnessed a notable decline during intraday trading on Wednesday as investors resorted to profit-taking, erasing early gains. Market sentiment remained cautious amid continued volatility in the trading session.
Read More: PSX turns bearish, sheds 294 points
In early hours, the benchmark KSE-100 Index climbed to an intraday high of 171,932.62 points, reflecting initial buying interest. However, the momentum could not be sustained as investors began booking profits.
As a result, the index dropped sharply by 994.15 points to 169,453.14 points, compared to the previous close of 170,447.29 points. The sharp reversal highlighted nervous investor behavior amid uncertain market conditions.
Analysts noted that profit-taking is common after strong upward movements, particularly when broader economic and political signals remain mixed. Investors appeared cautious, preferring to secure gains rather than take fresh positions.
Read More: PSX gains 877 points
A day earlier, the PSX had already closed on a bearish note. The KSE-100 Index shed 294.05 points, marking a decline of 0.17 percent, and settled at 170,447.30 points versus 170,741.35 points in the previous session, according to official PSX data.
Despite the decline, trading activity remained robust. The ready market recorded a trading volume of 1,176.638 million shares, with a total traded value of Rs53.473 billion.
This compared favorably with the previous session, which saw 905.685 million shares traded at a value of Rs47.718 billion. The higher volume indicated active participation despite the downward trend.
Read More: PSX 100 index surges 1,153 points
Out of 482 active companies in the ready market, shares of 161 companies advanced, while 290 declined and 31 remained unchanged. Market watchers expect continued volatility in the near term as investors closely monitor economic developments and corporate earnings.