KARACHI: The Pakistan Stock Exchange (PSX) faced selling pressure on Wednesday, with the benchmark KSE-100 Index closing lower by 308 points, ending a three-session positive streak.

The index started the day on a positive note, reaching an intra-day high of 115,773.39, but selling in the latter hours led to a decline. At the close, the KSE-100 settled at 114,495.71, down by 308.46 points or 0.27%. Analysts attributed the market's performance to a consolidation phase, with a lack of fresh triggers. Intermarket Securities noted that the upcoming Monetary Policy Committee (MPC) meeting would be crucial, as decisions on interest rates could determine market direction. The announcement of the new US administration also drew attention, particularly regarding the potential release of Imran Khan from jail, although this remains unlikely in the short term. The power sector saw significant interest, particularly in HUBC, following the federal cabinet's approval of revised agreements with 14 Independent Power Producers (IPPs). Key gainers included FFC, HUBC, BAFL, GLAXO, and ABOT, while losses in ENGROH, MARI, SRVI, UBL, and SYS offset some gains. The global market remained cautious, awaiting US consumer price data and earnings reports from major banks.  Meanwhile, the Pakistani rupee slightly depreciated against the US dollar, closing at 278.77. Volume on the all-share index increased to 659.43 million, with WorldCall Telecom leading the volume with 68.67 million shares traded.