KARACHI: The Pakistan Stock Exchange (PSX) remained under sustained selling pressure on Thursday as heightened uncertainty, sector-wide weakness and negative sentiment surrounding large-scale mining investments triggered a sharp retreat across benchmark indices.
The benchmark KSE-100 Index shed 2,537.16 points, or 1.39 percent, to settle at 180,512.65 points, compared with the previous close of 183,049.81 points. The index fluctuated within a wide intraday range, touching a high of 182,757.09 points before sliding to a low of 178,725.25 points, reflecting persistent selling pressure throughout most of the session.
On Thursday, the BRIndex100 closed at 20,405.35 points, down 358.56 points, or 1.73 percent, from the previous close, with a total turnover of 680.17 million shares. Meanwhile, the BRIndex30 recorded a steeper decline, falling 2,440.54 points, or 3.20 percent, to close at 73,892.99 points, on a trading volume of 489.39 million shares.
According to Ali Najib, Deputy Head of Trading at Arif Habib Limited, market sentiment deteriorated sharply amid rumours surrounding Barrick Gold’s comprehensive review of its Reko Diq copper-gold project, in light of the deteriorating security situation in Balochistan. He noted that speculation regarding the future of the project triggered broad-based selling, particularly across energy and exploration-related stocks, pushing the benchmark index down by more than 2,000 points during the session. However, selective value buying in the final trading hour enabled the market to recover part of its losses and close above the critical 180,000-point level.
Ali Najib highlighted that blue-chip stocks including PPL, HUBC, EFERT, SYS, OGDC, BAHL, ENGROH, MCB, NBP, and BAFL faced intense selling pressure, collectively trimming 1,427 points from the benchmark index and contributing significantly to the day’s decline.
Investor wealth declined sharply during the session. Total market capitalization fell to Rs20.44 trillion from Rs20.71 trillion in the previous session, translating into a net loss of approximately Rs271.72 billion.
Despite the bearish close, trading activity remained elevated. Ready Market turnover rose to 873.99 million shares from 734.67 million shares previously, while traded value increased to Rs41.77 billion compared with Rs35.39 billion. Market breadth reflected widespread weakness. In the Ready Market, only 93 stocks advanced, while 342 declined and 50 remained unchanged, out of 485 traded companies.
Trading volumes remained concentrated in power, energy, telecom, and industrial stocks. K-Electric Limited led the volume chart with 176.91 million shares traded, closing at Rs8.22. Cnergyico PK followed with 52.21 million shares, ending at Rs7.85, while Amtex Limited traded 39.74 million shares, closing at Rs4.67. Pakistan International Bulk Terminal closed at Rs19.39 on volumes of 31.43 million shares, and First National Equities ended at Rs1.50 with 30.91 million shares traded.
On the gainers’ board, Unilever Pakistan Foods Limited rose by Rs333.64 to close at Rs26,900.00, while Rafhan Maize Products Company Limited advanced by Rs197.76 to Rs9,772.78. On the losing side, PIA Holding Company Limited (B) plunged by Rs365.71 to Rs17,860.29, while Nestle Pakistan Limited fell by Rs84.59 to close at Rs8,012.50.
Sector-wise, the BR Automobile Assembler Index closed lower at 27,940.78 points, shedding 203.35 points, or 0.72 percent, with a turnover of 4.85 million shares. The BR Cement Index declined by 149.32 points, or 1.11 percent, to 13,271.21 points, on volumes of 30.46 million shares.
The BR Commercial Banks Index dropped sharply by 1,060.30 points, or 1.67 percent, to close at 62,349.53 points, with a turnover of 35.25 million shares. Similarly, the BR Power Generation and Distribution Index fell 557.84 points, or 1.91 percent, to settle at 28,572.52 points, as trading volumes stood at 211.97 million shares.
The BR Oil and Gas Index also ended in the red, losing 318.26 points, or 2.06 percent, to close at 15,159.10 points, on a turnover of 55.50 million shares. Meanwhile, the BR Technology and Communication Index recorded the steepest percentage decline, slipping 106.98 points, or 2.63 percent, to 3,964.99 points, with volumes of 90.14 million shares.
Analysts noted that overall, Thursday’s session reflected a fragile and sentiment-driven market, where external uncertainty, corporate earnings pressure, and sector-wide selling dominated trading, even as late value buying prevented a deeper slide.
Looking ahead, Ali Najib stated that as the market approaches the final trading session of the week, sustaining a close above the 180,000-point level will be crucial for maintaining consolidation and stability. Failure to hold this threshold could expose the index to further downside risk in the coming sessions.
Copyright Business Recorder, 2026
Comments