PSX reverses trend after early gains

The Pakistan Stock Exchange (PSX) endured a notable shift in momentum on Wednesday as early gains faded amid aggressive profit-taking during the closing hours, dragging the benchmark KSE-100 index into the red. The trading session began on a bullish note, buoyed by encouraging corporate earnings and signs of macroeconomic stability. This initial wave of optimism pushed the KSE-100 up by more than 500 points shortly after the market opened, with the index peaking at 168,163 – its highest point of the day. However, momentum fizzled out as the day progressed. The market entered a sluggish phase, moving sideways before bearish sentiment took over in the final stretch of trading. A selling spree, primarily driven by investors locking in gains, sent the index to the intra-day low of 166,231 points.