RECORDER REPORT

KARACHI: After four consecutive sessions of bullish trade, Pakistan Stock Exchange (PSX) on Wednesday closed lower.

The benchmark KSE-100 Index decreased by 1,204.21 points, or 1.02 percent to close at 117,226.15 points on Wednesday compared to 118,430 points on Tuesday. The daily volume at the ready counter also declined to 605 million shares down from 672 million shares in the previous session.

On Wednesday, BRIndex100 declined by 152 points or 1.2 percent to 12,676 points with a total volume of 519.406 million. BRIndex30 also fell by 479 points or 1.26 percent to settle at 38,139.05 points and total volume was 346.39 million shares.

Similarly, the total traded value on the ready counter fell to Rs 27.7 billion down from Rs 30.51 billion in the previous session. The market capitalization decreased by Rs 104 billion to Rs 14.340trillion. Out of 457 active scrips, 127 closed in positive and 276 in negative while the value of 54 stocks remained unchanged.

According to Topline after four positive sessions, bears made a forceful comeback on the local bourse on Wednesday. This reversal in sentiment can largely be attributed to escalating regional geopolitical tensions, which prompted investors to adopt a cautious stance and lock in recent gains.

The downward trajectory of the index was significantly influenced by negative contributions from key stocks, including UBL, HUBC, HMB, MARI, and ENGROH, which collectively dragged the index down by 526 points.

Bank of Punjab was the volume leader with 58.49 million shares and closed at Rs 10.04 followed byWorldCall Telecom that closed at Rs 1.33with 33 million shares. Power Cement ranked third with share trading of 29.6 million shares and it closed at Rs 14.20.

PIA Holding Company Limited and Khyber Tobacco Company Limited the top gainers increasing by Rs 247.28and Rs 28.68 respectively to close at Rs 2,720.07 and Rs 315.46, while Unilever Pakistan Foods Limited and Hoechst Pakistan Limited were the top losers declining by Rs 128.70 and Rs 84.02 respectively to close at Rs 22,942.73 and Rs 3,074.48.

Analysts said that stocks closed sharply lower after IMF slashes GDP growth forecast to 2.6pc for FY25 amid Trump tariff blow. Fitch Ratings forecast on weakening rupee, political noise and investor fears over outfall on Indian occupied Kashmir security unrest played catalyst role in bearish close at PSX, they added.

BR Automobile Assembler Index closed at 22,829.53 points, recording a decline of 298.60 points or 1.29 percent, with a total turnover of 4.57 million.BR Cement Index ended the session at 14,445.36 points, down by 74.38 points or 0.51 percent, with a total turnover of 94.28 million.

BR Commercial Banks Index settled at 33,415.06 points, reflecting a drop of 487.90 points or 1.44 percent, on a total turnover of 85.12 million.BR Power Generation and Distribution Index closed at 19,920.70points, declining by 407.58 points or 2.00 percent, with a total turnover of 18.68 million.

BR Oil and Gas Index ended at 11,703.65points, marking a loss of 98.41 points or 0.83 percent, with a total turnover of 46.49 million.BR Technology & Communication Index finished at 4,807.44points, down 61.74 points or 1.27 percent, with a total turnover of 91.78 million.

According to JS Global, the KSE-100 Index saw a significant decline mainly attributed to heightened investor uncertainty, a modest rise in the dollar and the broader impact of global financial instability. Analysts suggest that persistent economic challenges and global market volatility continue to weigh on sentiment. However, a potential easing of monetary policy and anticipated IMF support could provide a more optimistic outlook in the near future.