KARACHI: The Pakistan Stock Exchange (PSX) witnessed a notable correction on Thursday as the Shariah-compliant KMI-30 index shed 1,686.68 points, closing at 254,342.99. The decline, representing a 0.66% drop, comes as investors opted to lock in gains following a period of sustained growth.
The trading session opened at 256,715.75 and saw an intraday high of 257,888.90. However, selling pressure intensified in the later hours, dragging the index to a low of 252,934.99. Market analysts suggest that despite the daily dip, the index maintains a healthy Fiscal Year to Date (FYTD) return of 37.57%, signaling long-term resilience.
Trading activity remained moderate with the index constituent volume recorded at 110.75 million shares. While the overall sentiment was cautious, the Calendar Year to Date (CYTD) performance remains in the green at 2.34%, suggesting that the current downturn is likely a technical correction rather than a trend reversal.
