The Pakistan Stock Exchange (PSX) witnessed a choppy session on Wednesday as the benchmark KSE-100 index swung between gains and losses before closing slightly lower amid investor caution over the ongoing IMF review.

The index touched an intraday high of +484 points and a low of -176 points before settling at 114,084 points, down by 93 points (-0.08%).

Buying interest was seen in MARI, BAHL, MLCF, PABC, and DGKC, collectively adding 147 points to the index.

However, pressure from FFC, OGDC, and ENGROH erased these gains, dragging the market down by 188 points.

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Trading activity remained robust, with 298 million shares changing hands and a turnover of Rs20 billion. SSGC topped the volume chart with 18 million shares traded.

Ahsan Mehanti of Arif Habib Corp noted that stocks remained under pressure following a surge in KIBOR after the State Bank of Pakistan maintained its policy rate.

“Dismal car sales data, showing a 25% month-on-month decline in February 2025, coupled with pre-budget uncertainty and concerns over IMF’s pending approval for industrial power tariff relief, contributed to the bearish close,” he added.