Karachi: The KMI-30 index at the Pakistan Stock Exchange closed lower on Wednesday as investors opted for profit-taking in several heavyweight stocks.
The index lost 870 points to settle at 256,029, after fluctuating between 258,371 and 254,931 during the trading session.
Oil and gas stocks remained in focus, with OGDC and PPL leading the gainers list, reflecting investor confidence in the energy sector.
However, selling pressure in cement, power and fertiliser stocks dominated market sentiment. Lucky Cement and Hubco recorded notable losses, keeping the index under pressure throughout the session.
Market experts noted that the correction is healthy following recent upward movement and does not indicate any major shift in market fundamentals.
They believe Shariah-compliant equities continue to offer long-term growth potential, supported by strong earnings outlook and sector diversification.
