The Pakistan Stock Exchange (PSX) ended the trading session in the red, as the benchmark KSE-100 index fell by 312 points, closing at 119,649.
The market failed to maintain the psychological 120,000-point level, despite briefly crossing it during the day.
Throughout the day, the market saw high volatility, with mixed investor sentiment driven by caution ahead of the upcoming federal budget. Despite the overall downward trend, pharmaceutical stocks saw notable buying interest.
According to the Equity Dealer, Arsalan Ahmed, “Investors opted to book profits after a four-day bullish streak, as all eyes remain on the federal budget and its potential impact on the market.”
The day’s trading saw significant activity, with approximately 570 million shares changing hands, amounting to a total turnover of Rs. 29 billion. While volumes remained strong, pressure from profit-taking outweighed the gains made earlier in the week.
Analysts believe that market direction in the coming sessions will largely depend on fiscal policy announcements, particularly measures related to taxation, corporate incentives, and government spending.
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