The Pakistan Stock Exchange (PSX) witnessed sharp fluctuations during intraday trading on Thursday, with the benchmark KSE-100 index moving between losses and gains before slipping back into negative territory by midday.
Trading began on a weak note as selling pressure pushed the market into the red at the opening bell. The KSE-100 index fell by 2,354 points to 153,503 during the early minutes of trade, with turnover recorded at just over 3.6 million shares.
The market struggled to recover during the initial session and made several attempts to move into positive territory but failed to do so until around 10:21 AM. As buying activity gradually increased, the benchmark index managed to rebound strongly.
By 10:36 AM, the KSE-100 index had surged by 1,221 points to reach 157,080, marking the highest level of the session. Trading activity also picked up significantly, with volume rising to more than 68 million shares during that period.
However, the momentum did not hold for long as fresh selling pressure returned, pulling the index back down. By 12:49 PM on March 12, the KSE-100 index was recorded at 154,639.57, showing a decline of 1,218.90 points or 0.78 percent compared with the previous close of 155,858.47.
During the day’s trading so far, the index moved within a range of 153,503.70 to 157,080.28. Total traded volume had reached about 153.8 million shares by midday.
Despite the volatile session, the market still shows a one-year gain of about 35.55 percent, although it remains down by 11.15 percent since the start of the year.
Among actively traded stocks, Hascol Petroleum attracted notable investor interest and rose by Rs0.99, or 6.11 percent, to Rs17.20. Engro Fertilisers also posted gains, increasing by Rs3.77 to Rs209. Meanwhile, K-Electric slipped by Rs0.14 to Rs7.35, while Fauji Cement declined by Rs1.82 to Rs39.45.
Several companies within the KSE-100 index also recorded gains in percentage terms. Hinoon Laboratories led the advancers with a rise of about 7.86 percent, followed by Service Industries which gained 5.73 percent. AGP Limited increased by 5.51 percent, while Engro Holdings and Systems Limited both posted gains of around 3.99 percent.
Other companies that traded higher included EFERT, Pakistan General Insurance, TRG Pakistan, GlaxoSmithKline Pakistan and Nestle Pakistan, although most of these gains remained modest.
On the broader market, some stocks posted strong increases, including SIBL, ICCI and TRSM, each rising by more than 10 percent during the session. On the losing side, Wasl Limited recorded the sharpest drop, falling nearly 37 percent, followed by TSPL and Dewan Textile Mills, which both declined by about 10 percent.
The sharp swings during the session reflected cautious investor sentiment, with traders shifting between buying and profit-taking as the market searched for direction.
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