KARACHI: Pakistan Stock Exchange on Thursday remained under severe pressure and closed in deep red with heavy losses due to institutional selling that dented investor confidence.
The benchmark KSE-100 Index plunged by 1,634.22 points or 1.46 percent and closed at 110,301.16 points. The index hit 112,234.15 points intraday high, however failed to continue this trend due to selling pressure and dropped at 109,405.54 points intraday low.
The daily trading volumes on ready counter increased to 598.930 million shares as compared to 436.325 million shares traded on previous session. The daily traded value on the ready counter increased to Rs 25.629 billion against previous session’s Rs 23.225 billion.
BRIndex100 decreased by 180.15 points or 1.53 percent to close at 11,569.53 points with total daily turnover of 546.888 million shares.
BRIndex30 declined by 574.56 points or 1.66 percent to close at 34,034.11 points with total daily trading volumes of 367.970 million shares.
Foreign investors also remained net sellers of shares worth $811,531. Total market capitalization declined by Rs 173 billion to stand at Rs 13.654 trillion. Out of total 435 active scrips, 286 closed in negative and 101 in positive while the value of 48 stocks remained unchanged.
Silk Bank was the volume leader with 119.523 million shares and inched up by Rs 0.16 to close at Rs 1.19 followed by WorldCall Telecom that lost Rs 0.06 to close at Rs 1.52 with 80.384 million shares. Bank Makramah gained Rs 0.39 to close at Rs 4.15 with 64.937 million shares.
Nestle Pakistan and Haleon Pakistan were the top gainers increasing by Rs 51.11 and Rs 30.39 respectively to close at Rs 7,440.36 and Rs 847.78 while Unilever Pakistan Foods and Sazgar Engineering Works were the top losers declining by Rs 83.70 and Rs 46.60 respectively to close at Rs 22,315.50 and Rs 1,094.36.
An analyst at Topline Securities said that the KSE-100Iindex endured a turbulent session, plunging to an intraday low of 2,529 points before closing at 110,301, reflecting a sharp decline of 1,634 points (down 1.46 percent).
The persistent negative sentiment can be attributed to continuous institutional selling over the past week, which has severely dented investor confidence.
The drop was largely driven by ENGOH, FFC, MARI, SYS, and PPL, which together contributed 675 points to the loss.
BR Automobile Assembler Index plunged by 513.0 points or 2.41 percent to close at 20,810.62 points with total turnover of 9.269 million shares.
BR Cement Index lost 67.73 points or 0.61 percent to close at 11,079.90 points with 34.389 million shares.
BR Commercial Banks Index declined by 324.19 points or 1.06 percent to close at 30,218.76 points with 224.973 million shares.
BR Power Generation and Distribution Index gained 18.61 points or 0.1 percent to close at 17,991.21 points with 20.034 million shares.
BR Oil and Gas Index eroded 268.28 points or 2.38 percent to close at 10,995.78 points with 39.083 million shares.
BR Tech. & Comm. Index decreased by 150.74 points or 2.81 percent to close at 5,208.43 points with 112.039 million shares.
Ali Najib at Insight Securities said the PSX had a Bloodbath day as the KSE-100 index lost more than 2,500 points at one time during the session. However, value hunters rescued market there and assisted the benchmark index to call the day at 110,301 (down 1,634 points or 1.46 percent), almost an 896 points recovery from the day’s low.
Likely profit taking by institutional investors, domestic and global uncertainty on the political landscape post Tariff War, concern regarding IMF meeting as far as revenue shortfall goes, fund flows from equity market to real estate market as many localities in the city witnessing upward trend in plot prices since CY25TD are the likely key catalyst for the panic selling, during trade trading session.
Fertilizer, E&P and Tech are the key sectors which received profit taking in them. Consequently, ENGROH, FFC, MARI, SYS and PPL saw selling as they lost 675 points, collectively.
Copyright Business Recorder, 2025
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