The Pakistan Stock Exchange (PSX) experienced a volatile session on Thursday, with the benchmark KSE-100 index reaching an intraday high of 115,890 points before settling at 113,784, down 78 points (-0.07%).

Investor sentiment remained mixed, as the market lacked major triggers, according to Topline Securities.

The index swung between a gain of 595 points and a loss of 133 points during the session.

The upward momentum was led by OGDC, PPL, SNGP, PKGP, and MEBL, which collectively contributed 231 points.

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However, losses in LUCK, HBL, and PSO trimmed 132 points from the index.

Despite the cautious sentiment, market activity remained strong. A total of 397 million shares were traded, with a turnover of Rs 19 billion. CNERGY dominated the volume chart, with 71 million shares changing hands.

Ahsan Mehanti of Arif Habib Corp attributed the decline to investor concerns over upcoming corporate and provincial tax reforms ahead of the IMF’s review of the federal budget FY26 proposals.

“Uncertainty over independent power producer (IPP) deals and the outcome of tax reforms under IMF review next week played a catalyst role in the bearish close,” he noted.