The Pakistan Stock Exchange (PSX) gave back early gains by mid-afternoon on Thursday, with the KSE-100 sliding 682.11 points, or 0.4 percent, to 167,898.29 around midday, according to the exchange’s market summary.

The benchmark had opened higher and touched an intraday peak of 169,486.60 before selling pulled it down to a session low of 167,851.37. It closed Wednesday at 168,580.40 after a volatile day that ended only 120.30 points higher.

Turnover by early afternoon stood at 104.43 million shares, with traded value at Rs8.21 billion. Activity was led by K-Electric, Cnergyico, Pakistan International Bulk Terminal, Fauji Cement and Maple Leaf Cement. Pakistan State Oil was among the firmer large-caps, while Bank of Punjab traded lower.

Selling was broad rather than concentrated in one sector. Commercial banks, fertiliser, automobile assemblers, technology and power were in the red in the first half of the session. Oil marketing companies and selected cement stocks held up better, leaving the board mixed even as the Index stayed under pressure.

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The early spike above 169,400 failed to attract follow-through buying. Traders described the move as profit-taking after Wednesday’s late recovery, with investors still wary of Brent crude holding above $100 a barrel and lingering supply risks around the Strait of Hormuz. That overhang has kept the market range-bound this week, even when domestic political noise has eased.

The session remains open. A hold near the day’s low would leave the Index on course for its first clear loss of the week. Buying on dips, as seen on Wednesday, could still trim the deficit before the close.