The benchmark KSE-100 Index fell sharply at midday on Thursday, losing 1,492.16 points, or 0.83%, to reach 177,591.64 at the Pakistan Stock Exchange (PSX).

The index had climbed to an intraday high of 180,310.44 earlier in the session. However, selling pressure pushed it down to a low of 177,317.80.

The previous session’s close stood at 179,083.80.

Trading volume in KSE-100 stocks reached 164.54 million shares. Their traded value totalled Rs15.22 billion. Trading remained underway at the time of reporting.

Key Sectors Face Selling Pressure

The decline followed Wednesday’s session, when the KSE-100 lost 251.44 points, or 0.14%, to close at 179,083.80.

Late profit-taking erased earlier gains that had briefly lifted the index above the 180,000 mark.

Government Proposes Two-Tier Model for Privatised Power Distribution Companies

On Thursday, investors sold shares across several major sectors. These included commercial banks, cement, oil and gas exploration, oil marketing and power generation.

Heavyweight stocks also faced pressure. HUBCO, OGDC, PPL, PSO, HBL, MCB, MEBL and UBL all traded in negative territory.

Investors Book Profits After Recent Gains

Market participants appeared to be booking profits following recent gains.

Despite Thursday’s midday decline, the index remained higher for the week and the month at that point.

Trading continued during the session. The final closing level would depend on activity in the remaining hours.