Karachi, The Karachi Stock Exchange experienced a volatile trading session today, with initial gains eroded by profit-taking, resulting in a slight decline by the close of the market.

According to JS Global, the KSE100 index, after climbing 541 points earlier in the day, ended 80 points lower at 71,971. This shift was largely due to investors booking profits in cement and steel stocks. Despite this downturn, certain auto stocks like DFML, HCAR, and GHNI saw bullish momentum and closed at their respective upper limits. A late rally in stocks such as OGDC and PPL helped avert a larger decline in the market. Total market turnover increased significantly to 799 million shares, with KEL, WTL, and UNITY leading in volume.

JS Global Capital Limited also highlighted that foreign net buying continued, reaching $48 million year-to-date, which accounts for 65% of the net inflows seen in the entire previous year. The report notes that while there were fluctuations due to specific events such as the PSMC de-listing and rebalancing by a foreign fund in January, banks and fertilizers remained key sectors of interest that contributed to the stock market's rally this year.