The record-breaking streak in the stock market has finally come to a halt. After a 10,000-point rally over the past 10 days, the Pakistan Stock Exchange witnessed its first decline.
The benchmark KSE-100 Index fell 880 points, closing at 156,141 on Thursday, slipping below its all-time high of 157,500 points.
During the trading session, the index initially surged by 797 points but later reversed course. A total of 1.28 billion shares worth Rs51 billion were traded in the market.
Earlier in the day, the PSX witnessed a historic rally as the benchmark KSE-100 Index surged by 797 points, reaching an all-time high of 157,817 points. Strong buying interest in key sectors fueled the upward momentum.
Market opens on positive note
On the fourth business day of the week, trading began with a strong bullish trend. Within minutes of opening, the KSE-100 Index jumped 583 points, reaching 157,603 points.
Also Read: KSE-100 Index ends strong at 156,563 after record rally
Buying wave across key sectors
Analysts noted a significant buying spree in shares of cement, pharmaceutical, refinery, and IT companies, which drove market confidence and contributed to the record gains.
