KARACHI: The Pakistan Stock Exchange (PSX) witnessed sustained selling pressure on Wednesday as investors continued to offload positions amid rollover anxiety and weak institutional participation.
The benchmark KSE-100 Index dropped 1,635.97 points, or 1.02 percent, to close at 158,465.06, compared with 160,101.03 in the previous session. The index fluctuated between an intraday high of 160,690.12 points and a low of 158,306.84 points, underscoring fragile investor sentiment.
On Wednesday, BRIndex100 closed at 16,593.01, down 143.67 points or 0.86 percent from the previous close. The total volume on the index stood at 719.73 million shares. BRIndex30 closed at 52,485.59 points which was 471.32 points or 0.89 percent lower than previous close while the total volume was 459.62 million shares.
According to a market review by Topline Securities, the selling pressure deepened as the market extended its corrective phase. The index opened on a positive note but quickly succumbed to selling pressure. The correction was driven by mixed corporate earnings, with some companies posting strong results while others disappointed expectations.
Margin calls on leveraged positions further accelerated the decline, while volatility remained heightened due to the ongoing futures rollover week. The report noted that losses were primarily led by LUCK, UBL, MARI, MCB, and EFERT, which collectively eroded 577 points from the index, while NBP, THALL, BAFL, JVDC, and ILP provided partial support, contributing 186 points. Despite the bearish close, overall trading activity remained strong.
Out of 478 active companies, 123 advanced, 314 declined, and 41 remained unchanged. Market capitalization shrank by Rs183 billion, declining to Rs18.28 trillion from Rs18.46 trillion a day earlier. Trading volumes on the ready market stood at 951.84 million shares, compared with 1.02 billion shares on Tuesday. The traded value increased to Rs41.31 billion, up from Rs36.94 billion, reflecting higher participation in mid- and large-cap counters.
K-Electric Ltd. dominated the trading chart with 92.99 million shares to close at Rs5.44. Hascol Petroleum Ltd. followed with 53.92 million shares and finished the day at Rs15.54. WorldCall Telecom Ltd. recorded 51.08 million shares, closing slightly higher at Rs1.80.
Among major gainers, PIA Holding Company Ltd.-B continued to rally, rising Rs299.99 to close at Rs24,300.00, while S.S. Oil Mills Ltd. added Rs38.30 to finish at Rs421.28. On the losing side, Unilever Pakistan Foods Ltd. dropped Rs420.91 to Rs28,930.89, while Khyber Textile Mills Ltd. plunged Rs138.49 to Rs1,709.22.
The sectoral indices mirrored the overall bearish market sentiment, with losses recorded across key sectors.
BR Automobile Assembler Index closed at 24,213.38, down 257.87 points or 1.05 percent, on 1.93 million shares. BR Cement Index dropped 139.51 points or 1.10 percent, closing at 12,516.09, on 44.56 million shares.
BR Commercial Banks Index fell 407.43 points or 0.84 percent, to 48,257.76, with 115.58 million shares traded. BR Power Generation and Distribution Index closed at 26,390.84, down 165.57 points or 0.62 percent, on 117.97 million shares.
BR Oil and Gas Index declined 222.49 points or 1.61 percent, to 13,579.74, with 42.04 million shares. BR Technology and Communication Index slipped 54.13 points or 1.41 percent, to 3,781.91, on 253.75 million shares.
Analysts observed that the persistent slide in the KSE-100 index reflected both technical and sentiment-driven factors. Mutual funds and local institutions reportedly continued to trim exposure in large-cap stocks amid low-risk appetite, while retail investors largely stayed sidelined.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.