PSX slips 375 points as early gains fade
The PSX benchmark KSE-100 Index fell 374.85 points in early Wednesday trading as initial gains gave way to profit-taking. The session remained range-bound, with selective buying in some stocks and cautious broader sentiment.
Karachi: The Pakistan Stock Exchange stayed under pressure in early trading on Wednesday, with the benchmark KSE-100 Index falling 374.85 points, or 0.22%, to 170,646.92 from the previous close of 171,021.77.
The index moved both ways during the session before remaining in negative territory. It touched an intraday high of 171,624.45 points and later dropped to a low of 169,932.00 points. Main board trading volume rose to 75.73 million shares.
Initial gains were not sustained as investors moved to book profits. The session remained range-bound, with selective buying seen in some stocks, while overall sentiment stayed cautious amid ongoing economic developments.
On the main board, PAKQATAR led the gainers again, rising by 2.1 points. Other stocks posting gains included SPSL, up 0.92 points, DCL, higher by 0.55 points, TBL, gaining 0.11 points, and OBOY, which added 0.33 points. Among decliners, CNERGY fell 0.12 points and KEL lost 0.05 points.
In recent quotes, OGDC was among the stronger performers, gaining 1.67 points, or 0.52%, after news that the company made a significant hydrocarbon discovery at the Bobi Deep-1 well in Sindh's Sanghar district. AABS also rose 0.73 points, while PAEL and PPL came under mild selling pressure.
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