Stocks close flat on budget jitters, rupee concerns

After two consecutive sessions of a strong bull run, the Pakistan Stock Exchange (PSX) experienced a mixed trading day on Wednesday, marked by heightened volatility and profit-taking. The benchmark KSE-100 index recorded a sharp swing, rising as high as 885 points and dipping by 427 points during the session, before closing almost flat at 118,537 points, down 39 points or 0.03pc. The market exhibited a tug-of-war between gainers and losers, with heavyweight stocks pushing and pulling the index in opposite directions, according to Topline Securities. On the positive side, Engro Holdings Limited, Fauji Fertiliser Company Limited, Meezan Bank Li­­mited, United Bank Lim­i­ted, and Pakistan Petro­leum Limited collectively added 470 points to the index.