The Pakistan Stock Exchange (PSX) witnessed a sharp reversal on Thursday as early gains were wiped out by intensive selling, triggered by renewed political uncertainty.

The benchmark KSE-100 index, which had climbed to the intra-day high of 151,250 points, tumbled later, hitting the low of 148,273. It closed the day at 149,235, down 1,356 points, or 0.90%.

The sell-off emerged after the Supreme Court granted bail to former prime minister Imran Khan in May 9 cases, which sparked uncertainty about the political outlook. Major pressure came from index-heavy sectors such as commercial banks, cement and fertiliser, which endured broad-based selling.

AKD Securities Director Research Mohammed Awais Ashraf told The Express Tribune that investor sentiment turned cautious amid political uncertain

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