Selling enters seventh day as KSE-100 Index loses over 1,700 points

After a positive start, selling pressure returned to the Pakistan Stock Exchange (PSX) for the seventh consecutive session, with the benchmark KSE-100 Index closing the day with a loss of over 1,700 points on Thursday.

In the seven sessions, the KSE-100 Index has lost over 10,500 points.

The market kicked off trading on a positive note on Thursday, as the KSE-100 hit an intra-day high of 159,507.41. However, it resorted to profit booking in the latter hours, dragging the index to an intra-day low of 156,327.60.

At close, the benchmark index settled at 156,732.87, a decrease of 1,732.18 points or 1.09%.

Rollover activity and inconsistent corporate earnings contributed to the negative close, according to brokerage house Topline Securities.

Blue-chip counters including ENGRO, BOP, SYS, UBL, and MCB were the key underperformers, collectively eroding 1,162 points from the index, it added.

On Wednesday, the PSX witnessed sustained selling pressure as investors continued to offload positions amid rollover anxiety and weak institutional participation. The KSE-100 dropped 1,635.97 points, or 1.02%, to close at 158,465.06 on the day.

Internationally, Asian stocks advanced on Thursday after the Federal Reserve cut interest rates and as US and Chinese leaders met to thrash out a trade deal, while the yen weakened after the Bank of Japan kept rates on hold as expected.

MSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.4%, while US S&P 500 e-mini futures moved 0.4% higher after stocks on Wall Street posted a slim loss to snap a four-day winning streak.

Global markets are in the midst of a string of central bank decisions that will give clues about the path ahead for interest rates as the Trump administration imposes blanket tariffs on foreign imports.

The Nikkei 225 fluctuated between gains and losses and was last 0.2% higher after the Bank of Japan’s decision. Though it stood pat on rates, it repeated its pledge to continue increasing borrowing costs if the economy moves in line with its projections.

US President Donald Trump said on Thursday he had agreed with President Xi Jinping to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming US soybean purchases and keeping rare earths exports flowing.

Trump’s face-to-face talks with Xi in the South Korean city of Busan, their first since 2019, marked the finale of the US president’s whirlwind Asia trip on which he also touted trade breakthroughs with South Korea, Japan and Southeast Asian nations.

The Federal Reserve cut interest rates on Wednesday by a quarter of a percentage point as expected.

Traders have slashed their forecasts of a 25-basis-point rate cut from the US central bank in December, which had been viewed as a near-certainty earlier.

Meanwhile, the Pakistani rupee registered marginal improvement against the US dollar, appreciating 0.01% in the inter-bank market on Thursday. At close, the currency settled at 280.92, a gain of Re0.04 against the greenback.

Volume on the all-share index decreased to 848.30 million from 951.84 million recorded in the previous close. The value of shares rose to Rs37.61 billion from Rs41.31 billion in the previous session.

B.O.Punjab was the volume leader with 84.18 million shares, followed by WorldCall Telecom with 50.19 million shares, and K-Electric Ltd with 47.80 million shares.

Shares of 475 companies were traded on Thursday, of which 148 registered an increase, 293 recorded a fall, and 34 remained unchanged.