RECORDER REPORT

KARACHI: Pakistan Stock Exchange (PSX) witnessed a volatile and largely bearish session on Wednesday, as investors opted to secure profits following recent gains.

The benchmark KSE-100 Index dropped by 793.56 points, or 0.47 percent, to settle at 166,553.28 points, compared with 167,346.83 points a day earlier. The index fluctuated between an intraday high of 168,163.22 points and a low of 166,230.90 points, underscoring the uncertain investor mood.

Analysts at Topline Securities noted that the bourse remained highly volatile, moving in both directions as participants chose to book profits on strength. The brokerage observed that the choppy performance reflected investors’ caution amid mixed sectoral cues and a preference to lock in gains after the recent rally.

According to their assessment, major losses stemmed from FFC, UBL, MCB, HBL, and FATIMA, which collectively eroded 647 points from the index. However, buying interest in PPL, OGDC, PSX, BOP, and SNGP offset some of the decline, collectively contributing 306 points to the upside.

Trading volumes and values both contracted, with the ready market turnover standing at 1.57 billion shares compared to 1.82 billion shares a day earlier. The traded value slipped to Rs55.06 billion from Rs56.82 billion previously, while total market capitalization fell to Rs19.21 trillion from Rs19.27 trillion, marking a decline of roughly Rs55 billion in investor wealth.

Market breadth remained negative, with 203 companies advancing, 232 declining, and 41 remaining unchanged out of 476 actively traded scrips in the ready market.

The BRIndex100 ended the day lower at 17,455.42 points, down 78.77 points or 0.45 percent from the previous session, on a total volume of 1.396 billion shares. In contrast, the BRIndex30 closed higher by 294.07 points, or 0.52 percent, settling at 56,393.12 points with a total volume of 1.028 billion shares.

K-Electric Limited led the market in trading volumes with 241.02 million shares closing lower at Rs6.21. WorldCall Telecom followed with 163.53 million shares, gaining slightly to Rs2.08. The Bank of Punjab recorded 118.82 million shares, closing at Rs40.59.

Among the day’s key price movements, PIA Holding Company Limited (B) emerged as the top gainer, soaring by Rs1,338.35 to close at Rs25,998.80. Khyber Textile Mills Limited followed with an increase of Rs183.66 to finish at Rs 2,029.10. On the other hand, Unilever Pakistan Foods Limited dropped by Rs200 to Rs29,700, while Rafhan Maize Products Company Limited declined by Rs143.01 to Rs 9,462.84.

Sectoral performance also reflected mixed trends. The BR Automobile Assembler Index ended at 25,233.06 points, down 120.2 points or 0.47 percent, with a total turnover of 5.06 million shares. The BR Cement Index closed at 13,119.08 points, losing 42.36 points or 0.32 percent on a volume of 38.99 million shares.

The BR Commercial Banks Index declined by 450.71 points, or 0.87 percent, closing at 51,608.24 points with a turnover of 172.35 million shares. The BR Power Generation and Distribution Index also fell sharply by 339.98 points, or 1.19 percent, to 28,288.14 points on 249.16 million shares.

In contrast, the BR Oil and Gas Index posted a modest gain of 77.15 points, or 0.54 percent, closing at 14,409.84 points with a turnover of 65.62 million shares. Meanwhile, the BR Technology and Communication Index inched up by 7.44 points, or 0.18 percent, ending at 4,045.18 points with an active volume of 381.57 million shares.

Overall, the session reflected a cautious market tone as investors continued to lock in profits, while declining volumes and mixed sectoral trends kept sentiment restrained.