RECORDER REPORT

KARACHI: Pakistan Stock Exchange (PSX) came under mild pressure on Tuesday as investors opted for profit-taking. Investors appeared to reassess the sustainability of the recent bullish momentum, leading to a measured pullback in key sectors.

The benchmark KSE-100 Index shed 165.26 points or 0.12 percent, settling at 139,254.36 points, compared to the previous close of 139,419.62 points. The index swung between a high of 140,202.18 points and a low of 139,105.05 points during intraday trading.

On Wednesday, BRIndex100 closed at 14,332.67 points which was 11.93 points or 0.08 percent lower than previous close with the total volume remain 444.87 million. While BRIndex30 closed at 39,738.04 points which was 12.78 points or 0.03 percent lower than previous close and the total volume remained 200.4 million shares.

In its post-session commentary, JS Global observed after yesterday’s rally, profit-taking emerged as investors reassessed the sustainability of the optimism. Despite the initial momentum, profit-taking activities continued to dominate the market during the day. Key sectors, including banking and oil, saw mild corrections. It noted that while near-term volatility is likely, investor sentiment may improve if fiscal clarity emerges from FBR-stakeholder negotiations.

Analysts noted that the broader outlook remains cautiously optimistic, underpinned by institutional support and macroeconomic stabilization efforts.

Despite the decline, investor participation remained healthy with 656.6 million shares traded on the ready counter, compared to 629 million shares in the prior session. However, traded value dropped to Rs 32.09 billion from Rs 34.67 billion.

Market capitalization showed a marginal rise to Rs 16.635 trillion as compare to the Rs 16.629 trillion of previous day, with the marginal addition of Rs 6 billion.

Trading activity was heavily skewed toward speculative and low-priced scrips. WorldCall Telecom led the volume chart with over 55.4 million shares traded, closing at Rs 1.54. Media Times Ltd followed with 38.3 million shares, finishing at Rs 3.67, while First Dawood Properties saw 31.3 million shares change hands, and closing at Rs 6.75.

Among the day’s top gainers, PIA Holding Company Limited-B surged by Rs 2,791.38 to close at Rs 30,705.17, while Unilever Pakistan Foods Limited gained Rs 2,777.72 to settle at Rs 30,554.94. On the downside, Rafhan Maize Products Company Limited lost Rs 63.16 to close at Rs 9,469.83, and Hoechst Pakistan Limited fell by Rs 51.65 to end the day at Rs 3,082.60, making them the day’s top losers in absolute terms.

The BR Automobile Assembler Index settled at 22,936.57 points, gaining 310.44 points or 1.37 percent, with a total turnover of 21.07 million shares. The BR Cement Index ended the session at 10,679.82 points, down 34.91 points or 0.33 percent, on a turnover of 25.34 million shares.

With a turnover of 64.77 million shares, the BR Commercial Banks Index closed at 40,659.81 points, registering a decrease of 31.03 points or 0.08 percent. Recording a gain of 37.78 points or 0.31 percent, the BR Oil and Gas Index finished at 12,138.46 points, with total volume standing at 46.31 million shares.

The BR Power Generation and Distribution Index closed lower by 35.16 points or 0.16 percent, ending at 21,451.31 points, with a turnover of 23.81 million shares. At 3,019.50 points, the BR Technology & Communication Index rose by 23.56 points or 0.79 percent, backed by a robust turnover of 132.90 million shares.

According to Ahsan Mehanti of Arif Habib Corporation, the market’s downward trend was primarily driven by institutional profit-taking in overbought stocks, coupled with growing concerns over delays in the privatization of struggling state-owned enterprises (SOEs). Additionally, rupee volatility, rising inflation, and fears of foreign capital outflows acted as key catalysts for the bearish sentiment at the Pakistan Stock Exchange.