RECORDER REPORT

KARACHI: Persistent geopolitical tensions across the Middle East and rising global crude oil prices dragged the Pakistan Stock Exchange (PSX) into negative territory on Wednesday as selective profit-taking led key benchmark indices to settle lower. The benchmark KSE-100 Index shed 698.56 points, or 0.40 percent, to close at 171,943.60 points compared to 172,642.16 points on Tuesday. The benchmark index touched an intraday high of 173,174.19 points before sliding to an intraday low of 171,801.67 points.

Business Recorder’s sectoral indices displayed a mixed performance. The BRIndex100 closed at 18,928.71 points, down 85.35 points, or 0.45 percent, from the previous close, with total volume at 369.091 million shares.The BRIndex30 closed at 69,147.71 points, declining by 398.79 points, or 0.57 percent, on total turnover of 187.877 million shares.

According to Ali Najib, Deputy Head of Trading at Arif Habib Ltd, the PSX witnessed a negative and lackluster session, with the KSE-100 Index declining amid subdued market sentiment following renewed attacks across the Middle East. International oil prices continued to strengthen, with WTI above $94, up 1.9 percent, and Brent at above $100.

On the index contribution front, PSEL, UBL, OGDC, LCI and SAZEW collectively added 269 points, while FFC, MCB, LUCK, MEBL and MARI erased 411 points amid selective profit-taking.

Overall activity in the regular ready market slowed considerably. Total volume contracted to 477.675 million shares valued at Rs22.638 billion, compared with 722.624 million shares worth Rs27.943 billion on Tuesday. Ready-market volume therefore declined by 244.949 million shares, or approximately 33.91 percent, while traded value fell by Rs5.305 billion, or around 18.98 percent.

Total market capitalisation shrank by Rs62.129 billion to Rs19.233 trillion from Rs19.296 trillion in the previous session.

Market breadth remained negative, with 293 issues declining, 162 advancing and 37 remaining unchanged out of 492 active companies in the ready market.

Cnergyico PK topped the ready-market volume chart with 65.825 million shares and it closed at Rs13.06

Aisha Steel Mill traded 28.558 million shares, closing the day higher at Rs17.83.

Thatta Cement logged 25.595 million shares to settle at Rs83.70.

In ready-market price movements, PIA Holding Company Limited B recorded the highest absolute gain, advancing Rs568.02 to close at Rs17,450.00. Pakistan Services Limited followed with a gain of Rs98.02 to Rs1,078.25.

On the losing side, Unilever Pakistan Foods Limited dropped Rs349.50 to Rs24,500.00, while Buxly Paints Limited fell Rs114.48 to finish at Rs1,030.36.

The BR Automobile Assembler Index gained 82.67 points, or 0.35 percent, to close at 23,399.22 points, with turnover reaching 1.668 million shares.

The BR Cement Index lost 119.25 points, or 0.99 percent, to 11,881.11 points on volume of 45.246 million shares.

The BR Commercial Banks Index dropped 239.00 points, or 0.40 percent, to 59,655.15 points, with turnover recorded at 30.713 million shares.

The BR Power Generation and Distribution Index advanced 38.67 points, or 0.15 percent, to 26,362.74 points, on turnover of 28.530 million shares.

The BR Oil and Gas Index declined 50.32 points, or 0.34 percent, to 14,931.18 points, with total volume at 21.934 million shares.

The BR Tech. & Comm. Index fell 29.42 points, or 0.85 percent, to 3,435.59 points, on total turnover of 45.981 million shares.

Analysts noted that going forward, market activity is likely to remain volatile, with selective profit-taking and stock-specific moves expected amid the ongoing result season. Geopolitical developments and elevated oil prices will remain key drivers of market direction.