RECORDER REPORT

KARACHI: Pakistan Stock Exchange (PSX) closed Wednesday’s session marginally higher as select buying in energy, power generation and banking stocks helped benchmark indices end in positive territory, despite persistent volatility and broadly negative market breadth across cash and futures segments.

The session reflected a cautious trading environment, with investors remaining highly selective amid mixed sectoral signals and subdued risk appetite.

The benchmark KSE-100 Index rose by 177.53 points, or 0.09 percent, to close at 188,380.39 points, compared to the previous close of 188,202.86 points. The index experienced notable intraday swings, touching a high of 189,183.88 points and a low of 188,179.51 points, indicating alternating buying and profit-taking pressure throughout the day.

On Wednesday, the BRIndex100 edged marginally lower to close at 20,458.95 points, down 4.08 points, or 0.02 percent, from the previous close, with a total turnover of 749.05 million shares. In contrast, the BRIndex30 posted a strong recovery, gaining 420.96 points, or 0.66 percent, to settle at 64,073.12 points, on a trading volume of 486.15 million shares.

According to Topline Market Review, volatility dominated the trading session as futures rollover week pressure kept investors cautious and heightened intraday swings. The brokerage noted that despite sharp movements on both sides, the benchmark index demonstrated relative resilience and ultimately managed to close in positive territory, reflecting selective buying support at lower levels.

Topline said that buying interest in key heavyweight stocks United Bank Limited (UBL), Pakistan Petroleum Limited (PPL), Pioneer Cement (PIOC), Oil and Gas Development Company Limited (OGDC), and Pakistan Oilfields Limited (POL) provided solid support to the market, collectively adding 689 points to the benchmark index. However, the upside remained capped due to profit-taking in Fauji Fertilizer Company (FFC), Mari Petroleum (MARI), and Hub Power Company (HUBC), which together eroded 430 points, limiting the overall gains.

Despite mixed sentiment, overall investor wealth increased during the session. Total market capitalization rose by Rs39.37 billion to Rs21.19 trillion, compared with Rs21.15 trillion in the previous session, reflecting net value addition at the close.

Trading activity in the Ready Market improved significantly in terms of volume. Total turnover surged to 953.92 million shares, compared with 749.25 million shares in the previous session. However, the value of shares traded declined to Rs48.88 billion, down from Rs53.06 billion, indicating heavier activity in lower-priced stocks and speculative counters.

Despite the positive close in headline indices, market breadth remained decisively negative, highlighting the selective nature of the advance. In the Ready Market, 182 stocks advanced, while 253 declined, and 50 remained unchanged, out of 485 traded companies.

Trading activity remained heavily concentrated in power, utility, and energy-related stocks. K-Electric Limited dominated the volume chart, with 198.69 million shares changing hands, closing at Rs7.30. Nishat Chunian Power Limited followed with a turnover of 47.82 million shares, closing sharply higher at Rs78.82. LSE Ventures Limited recorded 35.22 million shares, closing at Rs9.88, while Pakistan International Bulk Terminal traded 34.58 million shares, ending at Rs20.89.

On the gainers’ board, Unilever Pakistan Foods Limited emerged as the top performer, rising by Rs105.00 to close at Rs27,781.00, while Bhanero Textile Mills Limited gained Rs87.66 to settle at Rs965.67. On the losing side, PIA Holding Company Limited (B) recorded the steepest decline, shedding Rs189.88 to close at Rs20,579.12, followed by Supernet Technologies Limited, which fell Rs36.71 to Rs1,213.46, reflecting continued selling pressure in selected high-priced stocks.

Sector-wise performance remained mixed. The BR Automobile Assembler Index closed almost flat at 27,252.75 points, recording a marginal decline of 1.43 points, or 0.01 percent, with a turnover of 4.91 million shares. The BR Cement Index ended higher, advancing 83.90 points, or 0.62 percent, to close at 13,650.71 points, supported by volumes of 32.02 million shares.

Similarly, the BR Commercial Banks Index gained 226.33 points, or 0.39 percent, to settle at 58,041.20 points, with a total turnover of 52.64 million shares. The BR Power Generation and Distribution Index closed marginally higher at 29,760.71 points, up 9.84 points, or 0.03 percent, as heavy trading of 292.21 million shares reflected continued interest in power sector stocks.

The BR Oil and Gas Index emerged among the stronger performers, rising 146.77 points, or 0.90 percent, to close at 16,482.53 points, with a turnover of 53.22 million shares, supported by selective buying in exploration and production names. Meanwhile, the BR Technology and Communication Index ended in the red, slipping 30.85 points, or 0.73 percent, to 4,217.03 points, on trading volumes of 79.45 million shares, reflecting continued selling pressure in select technology stocks.

Overall, Wednesday’s trading session reflected a selective and cautious recovery, with gains in banking and energy stocks lifting benchmark indices, while weak market breadth and heavy futures activity highlighted underlying uncertainty. Investors remained focused on short-term opportunities in power and oil-related stocks, while broader participation remained limited amid ongoing volatility.