RECORDER REPORT

KARACHI: Pakistan Stock Exchange (PSX) remained in consolidation on Thursday as late-session profit-taking offset early gains, leaving the benchmark Index marginally lower, while broader market indicators also closed mostly in negative territory amid selective investor positioning.

The benchmark KSE-100 Index closed at 177,322.78 points, down 47.93 points, or 0.03 percent, from the previous session. The index opened higher and climbed to an intraday high of 178,650.02 points before falling to a low of 177,196.29 points, indicating a trading range of more than 1,450 points during the session.

Business Recorder’s sectoral indicators showed a mixed but predominantly negative performance. The BRIndex100 closed at 19,530.12 points, down 56.20 points, or 0.29 percent, with a total volume of 455.57 million shares. The more concentrated BRIndex30 registered a considerably sharper decline, falling 1,382.92 points, or 1.89 percent, to settle at 71,870.91 points, on turnover of 269.71 million shares.

According to Ali Najib, Deputy Head of Trading at Arif Habib Limited, the market witnessed another consolidation session, with the KSE-100 opening on a positive note before coming under profit-taking pressure as the session progressed. The benchmark remained within a relatively wide intraday range, reflecting continued volatility and a lack of clear directional momentum.

Sector-wise contributions were sharply divided. Hub Power Company (HUBC), Engro Holdings (ENGROH), Pakistan Oilfields Limited (POL), United Bank Limited (UBL), and Fauji Fertilizer Company (FFC) collectively contributed around 494 points to the KSE-100. These gains, however, were more than offset by selling pressure in National Bank of Pakistan (NBP), Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO), Oil & Gas Development Company (OGDC), and Systems Limited (SYS), which collectively erased approximately 615 points from the benchmark.

The negative tone was also evident in market breadth. Of 496 companies active on the Ready Market, 191 advanced, 279 declined, while 26 remained unchanged, confirming the broad-based nature of the selling pressure despite the relatively small fall in the benchmark KSE-100.

Ready Market turnover amounted to 614.06 million shares, compared with 644.84 million shares in the preceding session, indicating a decline of approximately 30.78 million shares, or 4.8 percent.

The value of Ready Market transactions stood at Rs34.55 billion, compared with Rs31.37 billion in the preceding session, meaning traded value increased by approximately Rs3.18 billion, or 10.1 percent, despite the lower share volume.

Aggregate market capitalisation declined to Rs19.86 trillion, from Rs19.89 trillion in the previous session, representing a reduction of approximately Rs31.81 billion.

First National Equities dominated Ready Market trading with 86.07 million shares, closing at Rs1.24. It was followed by Cnergyico PK, which recorded 49.23 million shares and closed at Rs14.04. Tasdeeq Information traded 29.68 million shares, ending at Rs3.54, while S.G. Power (R) recorded 22.92 million shares, closing at Rs15.40.

Among the Ready Market’s biggest price gainers, Unilever Pakistan Foods Limited posted the largest absolute increase, rising Rs746.58 to close at Rs25,960.58 per share. Siemens (Pakistan) Engineering followed, gaining Rs43.19 to finish at Rs1,559.44.

On the downside, PIA Holding Company Limited B declined Rs100 to close at Rs17,200, while Rafhan Maize Products Company Limited shed Rs71.79 to settle at Rs9,247 per share.

Meanwhile, the BR Power Generation and Distribution Index advanced 286.88 points, or 1.07 percent, to 26,984.96 points, with turnover of 31.24 million shares.

The BR Automobile Assembler Index also moved higher, gaining 99.49 points, or 0.42 percent, to close at 24,012.51 points, on trading volume of 1.73 million shares.

In contrast, the BR Commercial Banks Index declined 122.25 points, or 0.20 percent, to 62,077.33 points, with 31.63 million shares traded.

The BR Cement Index shed 98.11 points, or 0.77 percent, to end at 12,582.54 points, with turnover of 40.70 million shares.

The BR Oil and Gas Index fell 129.81 points, or 0.84 percent, to close at 15,394.38 points, while trading volume reached 33.06 million shares.

Technology and communication stocks also remained under pressure. The BR Tech. & Comm. Index declined 29.60 points, or 0.84 percent, to settle at 3,483.49 points, on turnover of 35.89 million shares.

Looking ahead, Ali Najib said near-term trading is expected to remain range-bound and volatile, with 175,000 points identified as a critical initial support level. The session’s negative breadth and continued divergence among sectors suggest that the market remains in a consolidation phase, with investors continuing to rotate between sectors rather than establishing a clear broad-based directional trend.