KARACHI: Pakistan Stock Exchange (PSX) remained bearish on Wednesday as investors adopted a cautious stance amid the absence of tangible progress in ongoing diplomatic negotiations and lingering uncertainty over developments between the United States and Iran, while elevated oil prices further dampened market sentiment and triggered selling in key index-heavy stocks.
The benchmark KSE-100 Index closed at 167,451.14 points, registering a decline of 1,465.09 points or 0.87 percent compared to the previous close of 168,916.22 points.
The market remained highly volatile throughout the session, with the index touching an intraday high of 169,687.29 points and a low of 167,329.34 points, before staging a modest recovery toward the close, though ultimately settling in negative territory.
Business Recorder indices also mirrored the bearish trend. The BRIndex100 settled at 18,405.11 points, down 182.09 points or 0.98 percent, with total traded volume of 479.259 million shares. The BRIndex30 closed at 66,769.20 points, declining 542.20 points or 0.81 percent, with total turnover recorded at 243.953 million shares.
According to Topline Securities, the benchmark index remained under pressure during a volatile and range-bound trading session as cautious investor sentiment prevailed amid the absence of meaningful progress in negotiations and continued uncertainty regarding US-Iran developments.
Persistently elevated oil prices further weakened market confidence and kept investors on the sidelines.
Topline Securities said that despite a late-session recovery attempt, selling pressure in index-heavy stocks prevented the benchmark from returning to positive territory.
Major laggards including UBL, HBL, BAHL, LUCK and HUBC collectively dragged the benchmark lower by 734 points.
Trading activity slowed significantly compared to the previous session. Total turnover in the ready market declined to 684.901 million shares from 1.017 billion shares traded a day earlier. Likewise, traded value in the ready market fell to Rs21.741 billion, compared to Rs32.032 billion in the preceding session.
Overall market capitalization declined by Rs114.41 billion, shrinking to Rs18.571 trillion from Rs18.685 trillion a day earlier, reflecting broad-based selling pressure across the market.
Market breadth also remained negative, as 149 companies advanced, 298 declined, while 36 remained unchanged out of a total 483 traded companies in the ready market.
Among the volume leaders in the ready market, Agha Steel Industries topped the chart with turnover of 58.655 million shares, closing at Rs8.70. Treet Battery Limited followed with 49.809 million shares, closing higher at Rs10.31, while Bunnys Limited traded 38.698 million shares, ending lower at Rs7.47.
Among gainers, Khairpur Sugar Mills Limited emerged as the top performer, gaining Rs108.22 to close at Rs1,190.43, followed by Service Industries Limited, which rose Rs29.67 to settle at Rs1,813.36.
On the losing side, PIA Holding Company Limited B recorded the steepest decline, shedding Rs123.47 to close at Rs18,677.53, followed by Rafhan Maize Products Company Limited, which lost Rs66.59 to settle at Rs9,506.27.
The BR Automobile Assembler Index closed at 26,947.34 points, falling 266.91 points or 0.98 percent, with turnover of 6.067 million shares.
The BR Cement Index lost 100.09 points or 0.87 percent to settle at 11,383.02 points, with traded volume of 15.614 million shares.
Te BR Commercial Banks Index witnessed one of the sharpest declines, shedding 880.06 points or 1.55 percent to close at 55,984.23 points, while turnover stood at 42.443 million shares.
The BR Power Generation and Distribution Index declined 292.61 points or 1.05 percent to settle at 27,603.88 points, recording turnover of 45.627 million shares.
The BR Oil and Gas Index, however, managed to remain marginally positive, gaining 8.96 points or 0.06 percent to close at 14,842.61 points, with traded volume of 49.589 million shares.
Meanwhile, the BR Technology and Communication Index slipped 65.60 points or 1.72 percent to settle at 3,751.44 points, recording turnover of 85.838 million shares.
Market participants are expected to remain cautious in the near term, with geopolitical developments between the United States and Iran, oil price movements and diplomatic progress likely to remain key drivers of investor sentiment.
Copyright Business Recorder, 2026
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