KARACHI: The Pakistan Stock Exchange (PSX) witnessed a dramatic reversal on Thursday as strong early gains evaporated during the session, leaving the benchmark KSE-100 Index in negative territory at the close.
The market opened on a bullish note on the fourth trading day of the week, with the KSE-100 gaining more than 1,200 points and climbing above the 178,500-point level.
However, the momentum proved short-lived as selling pressure emerged during trading, wiping out the early gains and pushing the benchmark index into the red.
By the close of trading, the KSE-100 Index had fallen 47 points to settle at 177,322 points.
The sharp intraday turnaround highlighted volatility at the bourse, with investors apparently opting to book profits after the strong opening rally.
In the previous trading session, the benchmark index had closed at 176,370 points.
The reversal suggests that despite strong buying interest at the start of the session, the market struggled to sustain gains as profit-taking and selling pressure emerged at higher levels.
The movement from a gain of more than 1,200 points to a negative close indicates significant intraday volatility and could encourage investors to remain cautious in upcoming sessions.