PSX extends winning streak despite volatility

The Pakis­tan Stock Exchange (PSX) closed at a record high on Wednesday, settling above 165,500 points despite significant volatility. The benchmark index reached a new intraday high of 166,522 before experiencing a sharp fluctuation. Following a strong rally, the market experienced heavy selling pressure, causing the index to decline by as much as 1,338 points. However, the market ended with a modest gain of 146 points, or 0.09 per cent, marking its fifth consecutive record-setting session. According to Topline Securities, the day saw a tug-of-war between bulls and bears, with the index briefly surging 1,029 points before the late sell-off. Sector-wise, Mari Energies, Meezan Bank, Fatima Fertiliser, and Bank of Punjab contributed a combined 694 points to the index, while Engro Holdings, Hub Power, Habib Bank, Pakistan Petroleum, and Bank Al-Habib collectively pulled it down by 481 points.