The benchmark KSE-100 Index opened on a strong note, surging 918 points at its intraday peak.

However, profit-taking in the closing hours reversed the gains, dragging the index down by 0.43 per cent to settle at 112,085 points.

As many as 432 companies transacted their shares in the stock market, 135 of them recorded gains and 237 sustained losses, whereas the share price of 60 companies remained unchanged.

A total of 457.04 million shares were traded during the day as compared to 596.73 million shares the previous trading day, whereas the price of shares stood at Rs23.215 billion against Rs30.96 billion on the last trading day.

On Thursday, the local bourse saw a range-bound session, with the benchmark index swinging between an intraday high of 553 points and a low of 385 points. It closed at 112,564 points, marking a decline of 361 points.

According to the Topline Securities, the investor sentiment remained mixed, while MEBL results were in line with market expectations, PSO earnings fell slightly short of industry forecasts due to weaker-than-anticipated gross margins.

“Overall market activity was strong, with a rise in daily trading volume. A total of 596 million shares were traded, resulting in a turnover of Rs30 billion. BOP led the volume charts, with 79 million shares traded,” it said.