Selling engulfs bourse, KSE-100 sheds over 1,400 points

A bearish session was observed at the Pakistan Stock Exchange (PSX) marked by sustained selling, with the benchmark KSE-100 Index settling with a loss of nearly 1,400 points on Wednesday.

The benchmark index opened on a weaker note and remained under pressure throughout most of the trading session.

In the latter half of the day, the market remained range-bound at lower levels, dropping to an intra-day low of 182,369.86, indicating cautious investor sentiment.

At close, the KSE-100 Index settled at 182,569.81, a decrease of 1381.69 points or 0.75%.

“Defying the broader market trend, the E&P sector emerged as a notable outperformer,” said Topline Securities, in its post-market commentary.

OGDC rose 2.95%, while PPL gained 2.12%, both closing higher than the previous session amid selective buying interest in energy stocks, said the brokerage house.

“On the index front, heavyweights including OGDC, PPL, AKBL, MEBL, and ATLH lent support, collectively contributing 429 points. Conversely, weakness in UBL, MCB, FFC, LUCK, and HUBC weighed on sentiment, shaving 897 points off the benchmark,” it added.

Pakistan’s GDP growth is projected to remain at 3% in fiscal year 2025–26 before rising to 3.4% in fiscal year 2026–27, driven by a recovery in agricultural production and reconstruction efforts following a series of floods in 2025, the World Bank said.

However, Pakistan’s current account deficit is expected to widen in fiscal year 2026-27, with a rise in import demand, alongside the strengthening growth, and post-flood normalisation of remittance inflows, the Bank stated in its latest report on Global Economic Prospects.

On Tuesday, Pakistan’s equity market rebounded strongly, recovering a significant portion of Monday’s losses, as renewed buying interest lifted key benchmarks. The KSE-100 Index closed at 183,951.51 points, up 1,567.36 points or 0.86%.

Globally, Asian stocks rose on Wednesday, buoyed by Japanese shares, as investors braced for a snap election in Japan that could lead to more fiscal stimulus, while worries about central bank independence and benign US inflation data whipsawed currencies.

Geopolitical tensions across the globe lifted gold to a record peak and sent oil prices higher as US President Donald Trump urged Iranians to keep protesting, saying help is on the way.

Iran, in turn, accused Trump of encouraging political destabilisation and inciting violence.

MSCI’s broadest index of Asia-Pacific shares was up 0.2% to hover just below a record peak reached on Tuesday. Overnight, US stocks ended lower, led by a drop in financial shares after comments from JPMorgan executives added to worries about Trump’s recent proposal for a cap on credit card rates.

Chinese stocks rose 0.7% in early trade, just below a 10-year high that was hit on Tuesday. European stock futures rose 0.1%, pointing to a muted open.

Meanwhile, the Pakistani rupee strengthened against the US dollar in the inter-bank market on Wednesday. At close, the local currency settled at 279.97, a gain of Re0.03 against the greenback.

Volume on the all-share index decreased to 1,034.1 million from 1,037.3 million recorded in the previous close. However, the value of shares improved to Rs65.96 billion from Rs62.70 billion in the previous session.

K-Electric Ltd was the volume leader with 56.27 million shares, followed by WorldCall Telecom with 55.67 million shares, and Pak Int.Bulk with 47.52 million shares.

Shares of 483 companies were traded on Wednesday, of which 90 registered an increase, 352 recorded a fall, and 41 remained unchanged.