PSX faces profit-taking after two days of gains

Stocks came under selling pressure at the Pakistan bourse on Thursday as the benchmark KSE-100 index gave up early gains and closed with a drop of over 700 points amid profit-taking. At the commencement of trading, the market extended its healthy momentum of the past two days, hitting intra-day high at 123,418 within the very first hour. However, profit-taking emerged soon afterwards, which gradually took the index to intra-day low of 122,142 before the end of trading. "Stocks closed under pressure amid economic uncertainty ahead of the outcome of Pakistan-US reciprocal tariff talks to avoid potential 29% tariffs on exports," said Arif Habib Corp MD Ahsan Mehanti. Uncertainty about federal cabinet's approval of the revised Finance Bill 2025, along with concerns over tax collection targets and expanded powers for taxmen, which could affect industries, fuelled the bearish close, he added.