RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) experienced a turbulent session on Thursday as the benchmark KSE-100 Index plunged amid persistent selling pressure and cautious investor sentiment.

The Benchmark KSE100 Index lost 715.18 points, closing at 122,046.46 points. Throughout the session, the KSE-100 Index oscillated between a high of 123,417.87 and a low of 122,142.43, ultimately settling with a loss of 0.58 percent.

On Thursday, BRIndex100 closed at 12,450.07, losing 74.24 points or 0.59 percent, with a total turnover of 510.86 million shares. On the other hand, BRIndex30 edged down by 181.55 points or 0.48 percent to close at 37,666.23, as the total volume on the index stood at 295.50 million shares.

Topline Securities noted that after two consecutive sessions of strong gains, the local bourse witnessed a round of profit-taking today, driven by fiscal year-end considerations and short-term portfolio rebalancing.

Despite the bearish mood, overall market activity remained robust, with a noticeable uptick in volumes. The Ready Market recorded a turnover of 758.5 million shares compared to 749.8 million shares in the previous session, while the traded value also saw an increase, reaching Rs 29.93 billion from Rs 28.03 billion a day earlier. Market capitalization, however, contracted to Rs 14.796 trillion from Rs 14.858 trillion erasing approximately Rs 62 billion in value.

Investor interest remained concentrated in a few select stocks. Pak International Bulk Terminal led the volume chart with 37.5 million shares traded settling at Rs 8.52. WorldCall Telecom continued to be a retail investors’ favorite, with a turnover of 33.2 million shares, closing at Rs 1.45. Other actively traded stocks included Pervez Ahmed Co, Sui Southern Gas, K-Electric, and Hum Network.

On the price movement front, PIA Holding Company Limited stood out with an extraordinary surge of Rs 1,214.65 per share, closing at Rs 13,361.18. S.S.Oil Mills also registered a notable gain, adding Rs 71.57 to close at Rs 787.28. In contrast, Ismail Industries Limited witnessed a sharp decline of Rs 125.74 to settle at Rs 1,804.26, while Pakistan Services Limited dropped Rs 77.38, closing at Rs 849.03.

Market breadth remained negative throughout the session, with 200 companies ending in the green, 237 closing lower, and 36 remaining unchanged out of a total of 473 actively traded companies in the Ready Market.

The BR Automobile Assembler Index concluded the session at 20,120.89 points, down by 80.25 points or 0.40 percent, with a cumulative traded volume of 3.18 million shares.

The BR Cement Index extended its bearish momentum, losing 107.71 points or 1.02 percent to settle at 10,444.61 points, on the back of selling pressure while total turnover stood at 26.49 million shares.

BR Commercial Banks Index down by 464.58 points or 1.41 percent to close at 32,454.53 points, with total volume recorded at 45.63 million shares.

Likewise, the BR Power Generation and Distribution Index finished at 20,183.44 points after shedding 167.82 points or 0.82 percent, with an overall turnover of 39.05 million shares.

The BR Oil and Gas Index managed to limit losses, closing marginally lower by 22.07 points or 0.19 percent at 11,713.83 points, as trading activity in the sector remained relatively active with 63.02 million shares changing hands.

Meanwhile, the BR Technology & Communication Index remained under pressure, retreating by 35.55 points or 1.26 percent to end at 2,787.32, despite hefty volumes of 93.04 million shares.

According to market observers, bearish sentiment prevailed as investors remained cautious amid persistent concerns over fiscal measures and ongoing trade negotiations between Islamabad and Washington. Ahsan Mehanti, Director at Arif Habib Corporation, remarked that stocks came under pressure due to mounting economic uncertainty, with market participants closely watching the outcome of Pak-US reciprocal tariff discussions, aimed at averting a potential 29 percent trade duty on Pakistani exports.

Adding to the nervous sentiment was the prevailing political noise surrounding the delayed approval of the revised Finance Bill 2025-26 by the Parliament. Meanwhile, apprehensions over the Federal Board of Revenue’s collection targets and the expanded discretionary powers granted under the federal budget, which are expected to impact industrial sectors, further weighed on investor confidence and contributed to the bearish close at the Pakistan Stock Exchange.