PSX Rebounds After One-Day Sell-Off

Overview

• Thursday’s session saw the KSE-100 fall about 0.95%, closing at 177,373.76 after a midday sell-off erased earlier gains.
• By Friday afternoon the index had recovered roughly 1,284 points to about 178,657.76 on buying in banks and oil and gas stocks.
• Broker Topline Securities said the Thursday drop reflected post-rally profit-taking and weakness in a handful of large-cap names that heavily weight the index.
• Trading activity cooled as volume fell from 1,248.21 million to 1,070.48 million and turnover dropped from Rs41.81 billion to Rs31.64 billion, making price swings larger on thinner participation.
• Overseas shocks, including rapid developments at Nvidia and rising US short-term yield expectations, pushed investors toward selective buying and kept market participants cautious about further volatility.