PSX sees mixed trade as KSE-100 hovers near 166,000 by midday

The Pakistan Stock Exchange (PSX) experienced a mixed trading session by midday on Thursday, with the benchmark KSE-100 Index hovering near 166,000 points, reflecting a marginal decline of 74 points or 0.04% from its previous close. This follows a historic surge on Wednesday, when the KSE-100 recorded its highest single-day gain ever, skyrocketing over 14,000 points or 9.32% to settle at 165,811.01. Yesterday's rally, which even triggered a temporary market halt, was fueled by investor optimism over easing Middle East tensions and a Pakistan-brokered ceasefire between the United States and Iran, leading to a significant drop in global oil prices. Today, despite robust trading volumes, market breadth leaned negative, with fertilizer and banking stocks seeing profit-booking. However, selective buying continued in cement, energy, and textile sectors, indicating a cautious yet active market following the previous day's exceptional gains.