KARACHI: Pakistan Stock Exchange (PSX) witnessed a sharp downturn on Wednesday as profit-taking and the absence of new market triggers weighed on investor sentiment.
The KSE-100 Index plunged by 1,703.58 points, or 1.06 percent, to close at 159,578.19 points, compared with 161,281.77 points in the previous session. The benchmark index moved between an intraday high of 162,052.46 points and a low of 159,216.86 points..
On Wednesday, the BRIndex100 closed at 16,776.64 points, down 199.83 points or 1.18 percent, with a total turnover of 657.11 million shares. The BRIndex30 settled at 53,384.49 points, lower by 383.32 points or 0.71 percent, with a total turnover of 433.04 million shares.
According to Topline Securities, the market closed on a negative note, with the bearish tone primarily driven by the lack of fresh catalysts after the end of the corporate results season. Major index heavyweights FFC, ENGRO, LUCK, MEBL, and SYS were among the leading laggards, collectively eroding 902 points from the benchmark index.
Trading activity remained steady but slightly weaker than the previous day. The ready market turnover stood at 860.26 million shares, down from 899.41 million shares on Tuesday, while the traded value slipped to Rs34.85 billion, compared with Rs37.31 billion a day earlier. The market capitalization also declined to Rs18.27 trillion, from Rs18.47 trillion previously, subtracting Rs201 billion from the market.
Out of 481 companies traded in the ready market, 158 closed higher, 278 declined, and 45 remained unchanged.
The BR Automobile Assembler Index closed at 24,954.82, showing a net gain of 82.82 points or 0.33 percent, with a total turnover of 2.39 million shares. The BR Cement Index declined to 12,384.76, down 244.10 points or 1.93 percent, with a total turnover of 26.61 million shares.
The BR Commercial Banks Index closed at 48,712.27, losing 527.14 points or 1.07 percent, with 80.46 million shares traded. The BR Power Generation and Distribution Index remained almost unchanged, closing at 24,997.07, with a nominal gain of 0.02 points and a total turnover of 114.61 million shares.
The BR Oil and Gas Index declined to 13,440.76, down 104.48 points or 0.77 percent, with a total turnover of 104.78 million shares, while the BR Technology and Communication Index settled at 3,802.56, decreasing by 67.15 points or 1.74 percent, with 140.25 million shares traded.
Copyright Business Recorder, 2025
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