RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) closed on a negative note Thursday as heavy profit-taking in major sectors even as the bourse witnessed its highest-ever trading volume on record.

The benchmark KSE-100 Index fell by 1,241.66 points, or 0.75 percent, to close at 164,444.72 points, compared with 165,686.38 points in the previous session. During the day, the index touched an intraday high of 166,864.90 points and a low of 164,261.65 points, as early optimism gave way to broad-based selling in the latter half.

On Thursday, the BRIndex100 closed at 17,258.56, down 105.26 points or 0.61 percent, with a total volume of 2.83 billion shares. The BRIndex30 settled at 55,264.93, up 69.43 points or 0.13 percent, on a total turnover of 2.52 billion shares.

According to Topline Securities, the trading day began with strong upward momentum, pushing the KSE-100 Index up by as much as 1,178 points in early trade. However, the brokerage said the rally proved short-lived as local institutions engaged in profit-taking, triggering a sharp correction.

Topline attributed the reversal to institutional portfolio rebalancing and profit-taking at elevated levels following the recent historic rally. Losses were mainly driven by ENGRO, SYS, FFC, BAHL, and EFERT, which collectively eroded 658 points from the benchmark index. Gains in HMB, UBL, HUBC, PPL, and PSEL, however, helped limit the overall decline, contributing a combined 231 points to the index.

Trading activity in the ready market reached historic levels. PSX recorded its highest-ever daily volume, with 3.08 billion shares traded — surpassing all previous records. The surge in participation was fueled by renewed investor confidence following the successful conclusion of the IMF’s second review of the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) programs.

Despite record share turnover, the traded value declined to Rs50.61 billion from Rs68.60 billion, largely due to heavy activity in low-priced stocks such as K-Electric, WorldCall, and Telecard.

The market capitalization decreased by Rs105 billion, settling at Rs19.08 trillion compared with Rs19.18 trillion in the previous session.

Market breadth remained negative, with 269 companies closing lower, 174 advancing, and 41 unchanged out of 484 traded scrips in the ready market.

K-Electric Limited dominated trading with 1,022.41 million shares, closing at Rs7.70. WorldCall Telecom Limited followed with 953.71 million shares, closing at Rs2.09. Telecard Limited ranked third with 99.87 million shares, closing at Rs11.34.

Among major gainers, Unilever Pakistan Foods Limited rose by Rs347.94 to close at Rs29,736.27, while PIA Holding Company Limited-B gained Rs96.00, settling at Rs24,646.22.

In contrast, Nestle Pakistan Limited fell by Rs156.43, closing at Rs8,178.57, while Rafhan Maize Products Company Limited declined by Rs101.18 to close at Rs9,606.15.

The BR Automobile Assembler Index closed at 25,237.11, down 21.89 points, or 0.09 percent, on a turnover of 3.75 million shares. The BR Cement Index ended at 13,083.46, down 112.12 points, or 0.85 percent, with 29.63 million shares traded.

The BR Commercial Banks Index settled at 50,301.72, down 277.42 points, or 0.55 percent, with 149.44 million shares traded. The BR Power Generation and Distribution Index closed at 29,016.11, up 89.43 points, or 0.31 percent, on a turnover of 1.05 billion shares.

The BR Oil and Gas Index ended at 14,171.30, down 86.71 points, or 0.61 percent, with 95.15 million shares traded. The BR Technology and Communication Index declined 56.07 points, or 1.41 percent, to close at 3,908.53, on a robust turnover of 1.15 billion shares.

Analysts noted that despite the correction, the record trading volume underscored strong investor participation amid improving economic indicators and sustained foreign inflows. They added that market performance in the coming sessions would likely hinge on global oil price trends, and follow-up measures from the IMF program, as investors continue to weigh short-term volatility against long-term economic recovery prospects.