KARACHI: Pakistan Stock Exchange on Wednesday started the trading session with a positive sentiment as investors enthusiasm was fuelled by the Prime Minister’s visit to the PSX. However, the market failed to continue this momentum and witnessed sharp decline as no immediate relief measures were announced which led to profit-taking, analysts said.
The benchmark KSE-100 Index plunged by 1,904.23 points or 1.64 percent and closed at 114,148.46 points. During the session, the index hit 117,750.23 points intraday high and 113,847.04 points intraday low.
The daily trading volumes on ready counter increased to 1,099.982 million shares as compared to 792.770 million shares traded on Tuesday. The daily traded value on the ready counter declined to Rs 32.466 billion against previous session’s Rs 39.694 billion.
BRIndex100 decreased by 231.94 points or 1.92 percent to close at 11,860.13 points with total daily turnover of 988.603 million shares.
BRIndex30 declined by 941.63 points or 2.56 percent to close at 35,818.40 points with total daily trading volumes of 835.800 million shares.
Foreign investors also remained net sellers of shares worth $1.812 million. Total market capitalization declined by Rs 204 billion to Rs 14.316 trillion. Out of total 464 active scrips, 293 closed in negative and 118 in positive while the value of 53 stocks remained unchanged.
WorldCall Telecom was the volume leader with 520.199 million shares and gained Rs 0.08 to close at Rs 1.79 followed by Cnergyico PK that lost Rs 0.35 to close at Rs 7.00 with 41.301 million shares. Fauji Foods closed at Rs 17.64, down Rs 0.41 with 34.830 million shares.
JDW Sugar Mills and Rafhan Maize Products Company were the top gainers increasing by Rs 82.27 and Rs 67.77 respectively to close at Rs 904.95 and Rs 8,954.94 while Hallmark Company and Nestle Pakistan were the top losers declining by Rs 68.23 and Rs 61.85 respectively to close at Rs 789.61 and Rs 7,282.23.
An analyst at Topline Securities said that the local bourse started the day with positive sentiment as investor enthusiasm was fueled by the Prime Minister’s visit to the Pakistan Stock Exchange. This optimism led the index to reach an intraday high of plus 1,697 points. However, profit-booking dominated the later half of the session, pulling the index to an intraday low of minus 2,205 points.
The decline in the index was primarily driven by UBL, PPL, SYS, MARI, and OGDC, which together contributed to a loss of 659 points. On the other hand, ENGROH, FFC, and SRVI helped offset the losses, adding 184 points to the index.
The market participants exhibited caution during the session as profit-taking ensued after recent market rallies, reflecting a mix of optimism and near-term risk aversion.
BR Automobile Assembler Index declined by 419.94 points or 1.93 percent to close at 21,305.30 points with total turnover of 10.241 million shares.
BR Cement Index decreased by 220.52 points or 2.01 percent to close at 10,752.14 points with 48.504 million shares.
BR Commercial Banks Index plunged by 556.44 points or 1.85 percent to close at 29,525.61 points with 48.559 million shares.
BR Power Generation and Distribution Index eroded 448.24 points or 2.41 percent to close at 18,165.45 points with 28.066 million shares.
BR Oil and Gas Index fell by 282.57 points or 2.3 percent to close at 12,006.95 points with 56.730 million shares.
BR Tech. & Comm. Index closed at 5,454.61 points, down 151.68 points or 2.71 percent with 558.804 million shares.
Muhammad Hasan Ather at JS Global Capital said that the sharp decline came despite Prime Minister Shehbaz Sharif’s visit, as no immediate relief measures were announced which led to profit taking. The highest trading volumes were recorded in WTL, CNERGY, FFL, SSGC, and PRL.
Copyright Business Recorder, 2025
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