RECORDER REPORT

KARACHI: Pakistan Stock Exchange (PSX) again slipped on Thursday as persistent geopolitical uncertainty, rising international oil prices and the absence of positive triggers weighed on investor sentiment, triggering broad-based selling across major sectors.

The benchmark KSE-100 Index declined by 2,006.67 points, or 1.21 percent, to close at 163,924.32 points against 165,930.99 points in the previous session. During the day, the index fluctuated within a range of 2,397.90 points, reaching an intraday high of 166,180.32 points and a low of 163,782.42 points.

Business Recorder’s benchmark indices also reflected the broad-based decline. BRIndex100 closed at 17,981.10 points, losing 273.97 points, or 1.50 percent, with a total turnover of 275.717 million shares. On the other hand, BRIndex30 fell by 1,353.54 points, or 2.07 percent, to close at 63,969.92 points. The total volume on BRIndex30 stood at 146.393 million shares.

According to the Topline Sales Desk, concerns over geopolitical developments and rising oil prices, along with their potential implications for Pakistan’s economic outlook, kept investors on the defensive. Selling pressure intensified as the session progressed, with ENGROH, UBL, HUBC, HBL and PTC emerging as the major laggards and collectively dragging the benchmark KSE-100 Index down by approximately 752 points.

Activity in the ready market declined in terms of both share volume and traded value. Total turnover stood at 367.094 million shares compared with 379.905 million shares in the previous session, representing a decrease of 12.811 million shares, or 3.37 percent.

The total traded value contracted to Rs. 17.998 billion from Rs. 21.282 billion, a decline of Rs. 3.284 billion, or 15.43 percent.

The decrease in traded value was accompanied by a contraction in the market’s overall capitalisation. Total market capitalisation fell by Rs. 211.531 billion to Rs. 18.173 trillion from Rs. 18.385 trillion in the preceding session. Market breadth was heavily tilted towards declining stocks, with 355 companies closing lower, 101 advancing and 38 remaining unchanged out of 494 active issues.

Pak Refinery led ready-market turnover with 25.878 million shares. The stock closed at Rs. 95.12 against the previous close of Rs. 99.88. Cnergyico PK followed with 23.191 million shares. It settled at Rs. 12.35 compared with Rs. 12.52 previously. WorldCall Telecom recorded turnover of 22.160 million shares. The stock closed at Rs. 0.90 against the previous close of Rs. 0.93.

Among ready-market price gainers, Unilever Pakistan Foods Limited recorded the largest increase, rising by Rs. 1,216.28 to close at Rs. 29,103.21. Khairpur Sugar Mills Limited followed, gaining Rs. 157.11 to settle at Rs. 1,728.17.

On the losing side, PIA Holding Company LimitedB recorded the largest decline, shedding Rs. 638.57 to finish at Rs. 13,626.76. Attock Refinery Limited followed, falling by Rs. 47.96 to close at Rs. 1,089.60.

The BR Automobile Assembler Index declined by 331.87 points, or 1.54 percent, to close at 21,267.21 points on turnover of 3.197 million shares. The BR Cement Index shed 175.70 points, or 1.55 percent, to settle at 11,156.81 points, with 15.063 million shares traded.

The BR Commercial Banks Index lost 582.44 points, or 1.01 percent, to close at 56,809.38 points on turnover of 16.914 million shares. The BR Power Generation and Distribution Index recorded a steeper decline of 553.31 points, or 2.21 percent, to settle at 24,539.72 points, with 23.358 million shares traded.

The BR Oil and Gas Index fell by 141.81 points, or 0.96 percent, to finish at 14,670.02 points, recording turnover of 13.797 million shares. The BR Tech. & Comm. Index registered the largest percentage decline among the listed sectoral indices, shedding 80.06 points, or 2.55 percent, to close at 3,062.48 points, with 68.694 million shares traded.

Analysts noted that the market ended on a bearish note as the benchmark extended its losses amid persistent external headwinds. They said market direction would remain sensitive to geopolitical developments and international oil price movements, with investor sentiment likely to stay cautious until greater clarity emerged.