The Pakistan Stock Exchange (PSX) saw the banking sector under pressure as the benchmark KSE-100 Index lost over 900 points due to profit-taking. However, the index recovered some losses later in the day. Heavy selling pressure was seen in the banking sector, particularly HBL and Meezan Bank. Experts attributed the decline to profit-taking, although overall economic indicators remained positive as investors awaited the IMF’s executive board meeting on Jan 11, 2024. According to analyst Waqas Kukaswadia, the market sentiment remained optimistic despite the profit-taking. In the previous week, the bourse witnessed a record-breaking trend as it hit historic highest levels on the back of aggressive buying and institutional support, with the benchmark KSE-100 index surging by a massive 4,532.38 points.
This is an intra-day update. [Source](https://www.brecorder.com/news/40277887)
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