KARACHI: The eightsession bull run at the Pakistan Stock Exchange (PSX) came to an end on Wednesday as investors resorted to profit-taking at elevated levels, pulling the benchmark KSE-100 index below the 133,000 mark.

The index settled at 132,576.99, down 826.20 points or 0.62 per cent, according to Topline Securities Ltd. The session remained volatile, with the benchmark oscillating between an intraday high of 133,566 and a low of 132,326, as the market entered a phase of consolidation.

The decline was primarily driven by negative contributions from key stocks, including Fauji Fertiliser Company (FFC), Engro Holdings, Bank Al Habib, Pakistan State Oil, and Habib Bank Ltd, collectively shavingoff 397 points from the index. Selling pressure was most pronounced in the fertiliser, energy, and banking sectors.

Ahsan Mehanti of Arif Habib Corporation attrib-uted the bearish spell to institutional profit-taking in overbought stocks amid foreign outflows, weak global equities due to US tariff concerns, and rupee volatility. He added thatuncertainty following the Asian Development Bank`s concerns over the Federal Board of Revenue`s tax compliance also weighed on investor sentiment.Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the market showed signs of caution following recent rallies, with profit-taking dominating as valuationsstretched. Despite the drop, he noted that broader macro indicators remained supportive.

On the macroeconomic front, workers` remittances reached $3.2bn in June, pushing the fullyear figure for FY25 to $38.3bn a development that may help stabilise the external account and boost investor confidence.

Market participation, however, showed some weakness. Traded volume fell by 24.9pc to 905.74 million shares, while traded value declined by 27.35pc to Rs30.53bn. TPL Properties led the volume chart, with 65.90 million shares changing hands.

Analysts believe the market remains on an overall upward trajectory, supported by positive macro fundamentals and the upcoming earnings season.

Key support levels are now seen at 130,000 and 127,000, with investor optimism likely to sustain buying interest in the near term.