The Pakistan Stock Exchange (PSX) witnessed a volatile session on Thursday, with early gains wiped out by a sharp downturn later in the day, leading to billions in investor losses.

At the start of trading, the market surged with the KSE-100 index gaining over 700 points, reaching a record high of 120,699 points. However, as the session progressed, bearish pressure took over, and the index eventually closed down by 778 points, settling at 119,153.

This downturn came despite Wednesday’s bullish close, where the index had gained 960 points, ending at 119,931.

According to PSX data, a total of 223.28 million shares worth over Rs 20.65 billion were traded during the session.

Meanwhile, the interbank currency market showed a positive trend, with the Pakistani rupee appreciating by 6 paisas against the US dollar. The greenback closed at Rs 281.90.

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