Karachi: The KSE-100 index experienced a downturn, closing at 81,851 after a decline of 224 points, despite achieving a record intraday high earlier in the day. The overall trading volume surged to 400 million shares, indicating a significant level of activity among traders.

According to JS Global, the benchmark index saw broad-based profit-taking, with major companies like PACE, WTL, OGDC, SYM, and HUBC leading in trading volume. The research suggests adopting a buy-on-dips strategy in sectors such as banking, exploration and production, and fertilizers for future trading sessions.

Key market indices showed varied performance. The KSE-30 index fell slightly by 56.94 points to 25,977.37. In contrast, significant gains were reported in stocks such as FFC, SCBPL, and EFUG, which increased by 7.00%, 6.36%, and 5.26% respectively. On the downside, NCPL, NPL, and PGLC were among the top losers, with declines ranging from 7.21% to 9.84%.

Market capitalization of the PSX also saw a slight decrease, dropping 0.14% to 10,708.24 billion rupees. The year-to-date figures continue to show strong gains, with the KSE-100 up 31.06% since the start of the calendar year.

In terms of future expectations, the investment firm emphasized the importance of selective buying, particularly in sectors poised for recovery or expected to benefit from current economic trends.