Karachi: The Pakistan Stock Exchange witnessed a bearish session on Wednesday as the benchmark KSE-100 index dropped sharply by 1,381 points, closing at 182,569.82.
The index opened at 184,400, touched an intraday high of 184,726, but persistent selling pressure pushed it to a low of 182,369 before the market closed in negative territory. The session ended with a 0.75 percent decline.
Despite the fall, trading activity remained strong with index constituent volume recorded at 444.26 million shares, reflecting continued investor participation.
Oil and gas stocks offered some support, with OGDC leading the pullers list by contributing 190 points, followed by PPL, AKBL, Meezan Bank, and Atlas Honda.
However, heavy losses in banking and cement stocks dominated the session. UBL emerged as the biggest dragger, pulling the index down by over 300 points, while MCB, FFC, Lucky Cement, and Hub Power Company also weighed heavily on market performance.
Market analysts said profit-taking after recent highs and sector-specific pressure in banking stocks were the main reasons behind the decline.
Despite the correction, the KSE-100 index still shows a financial year-to-date return of 45.33 percent, indicating strong long-term market performance.
