PSX reverses early gains as KSE-100 slips into red amid profit-taking

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a volatile session on Thursday, October 16, 2025, as early optimism gave way to selling pressure later in the day. The benchmark KSE-100 Index, which opened in strong green territory, initially surged by over 1,100 points but later reversed course, slipping into the red by afternoon trade.

The market began the session on a positive note, extending the upbeat sentiment from the previous day’s close at 165,686.38 points. In the opening hours, the index jumped by 1,178.51 points to reach an intraday high of 166,864.89, reflecting robust investor confidence and brisk buying activity across major sectors. At that time, the trading volume stood at 25.57 million shares.

However, as the session progressed, profit-taking kicked in. Around 1:04 PM, the index had trimmed its early gains, standing 564.08 points higher at 166,250.46, with volumes soaring to 821.58 million shares. The market remained positive until about 1:40 PM, after which selling pressure deepened, pushing the benchmark index into negative territory within minutes.

By 1:59 PM, the KSE-100 Index was recorded at 165,193.99, showing a decline of 492.39 points or 0.30 percent. The day’s range so far had been between 165,193.05 and 166,864.89 points, reflecting sharp intraday swings. Despite the short-term volatility, the PSX remains significantly higher on a yearly basis, up 91.63 percent compared to the same period last year, while the year-to-date performance also shows a strong 43.49 percent gain.

Market watchers attributed Thursday’s fluctuations to a combination of profit-taking by investors and a cautious stance ahead of key economic data releases. The market’s earlier momentum was largely fuelled by optimism over improved macroeconomic indicators and expectations of continued foreign inflows following Pakistan’s staff-level agreement with the International Monetary Fund this week.

Gainers and losers

Among individual stocks, several companies posted impressive gains during early trade before the broader market turned mixed. TCORPCPS, PACE, KOHP, and TSMF were among the top performers, each gaining around 10 percent. Other notable advancers included SERT, EMCO, and GLPL, which also rose by nearly the same margin.

On the losing side, GEMBLUEX led the decliners with a drop of 9.98 percent, followed by DIIL and ARPAK, which fell 9.73 percent and 8.22 percent respectively. Other major losers included CASH, STJT, and JDMT, all facing significant pressure as investors booked profits after recent rallies.

Among KSE-100 constituents, notable gainers included PSEL, SEARL, UBL, and HUBC, which showed modest upticks during the morning rally. In contrast, heavyweights such as BAHL, ENGROH, NESTLE, and OGDC saw declines as the day progressed.

Previous close

The previous session on Wednesday had closed slightly positive, with the index up by 210.36 points, helped by buying in banking and energy shares after positive developments in Pakistan’s IMF loan programme. However, the lack of fresh triggers on Thursday prompted investors to lock in gains, leading to a mild correction.

Analysts said the market’s overall tone remains constructive despite the intraday volatility, as underlying fundamentals and sentiment continue to favour equities. They noted that the PSX’s strong one-year and year-to-date performance reflects improving investor confidence in Pakistan’s economic recovery and financial outlook.