The Pakistan Stock Exchange (PSX) saw another turbulent trading session on Thursday as investor sentiment remained fragile due to the lack of progress in negotiations between Pakistan and the International Monetary Fund (IMF).
The KSE-100 Index opened on a positive note, briefly touching an intra-day high of 166,729.97. However, the momentum quickly faded as profit-taking intensified in the later hours, pulling the index down to an intra-day low of 164,306.76.
By the close of trading, the benchmark index had shed 735.94 points, or 0.45%, to settle at 164,530.80 — extending losses from the previous session.
The day prior, the market had also endured a volatile and bearish session. Despite an early rally, heavy institutional selling drove the KSE-100 down by 907 points (0.55%) to close at 165,266.75 on Wednesday.
Meanwhile, the Pakistani rupee showed little movement against the US dollar. It inched up by Re0.01 in the interbank market on Thursday, closing at 281.20 compared to the previous day’s 281.21.
