PSX turns red as profit-taking drags KSE-100 down 793 points

The Pakistan Stock Exchange witnessed a notable shift in momentum as early gains faded amid aggressive profit-taking during the closing hours, dragging the benchmark KSE-100 index deep into the red by the end of trading. The session began on a bullish note on Wednesday, buoyed by encouraging corporate earnings and signs of macroeconomic stability. This initial optimism pushed the KSE-100 up by more than 500 points soon after the opening bell, with the index peaking at 168,163.22, its highest level of the day. However, momentum fizzled as trading progressed. The market entered a sluggish phase, moving sideways for several hours before bearish sentiment took over in the final stretch. A wave of selling — mainly from investors locking in gains — sent the index tumbling to an intra-day low of 166,230.89.