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KARACHI: Volatility persisted in the stock market on Thursday as the Pakistan Stock Exchange (PSX) extended its southward move for the third straight session. Political uncertainty and mounting tensions in the Middle East triggered late nervous selling, forcing the benchmark KSE-100 index to close in the red after a bullish start.
Topline Securities Ltd said the index closed at 176,591.77, down 254.59 points, or 0.14 percent, after a highly volatile trading session.
The index initially surged more than 1,400 points to 178,291.37 but failed to sustain its gains, then retreated to a low of 176,156.57.
Selling pressure remained concentrated in key heavyweight stocks, while selective buying in the oil and gas exploration sector offered some support. The sharp intraday reversal reflected ongoing investor caution after the recent market correction. Sentiment remained subdued amid renewed geopolitical uncertainty and elevated international oil prices, prompting investors to reduce exposure across major sectors.
