KSE-100 index falls 85 points

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index declined 85.44 points, or 0.08 per cent, to 112,924.94 on Wednesday, reflecting investor caution amid broader market volatility.

Market turnover surged to 669.6 million shares, up from 486.9 million in the previous session, with traded value reaching Rs27.9 billion. The total market capitalisation stood at Rs13.96 trillion, showing marginal gains from the previous day.

Ali Najib, head of sales at Insight Securities, said, “The PSX had a mixed today as the KSE-100 index observed diverse sentiments during trading hours. The market moved into a range of 815 points and eventually ended the day at the 112,925 level (-85 point, down 0.08 per cent).”

During the session, “sector- and stock-wise momentum was witnessed, as investors opted to do some sector and stock switching in the absence of any positive/negative trigger,” he added

PPL, BOP, PTC, AKBL and EFERT saw buying interest as they added 201 points, collectively. On the other hand, ENGROH, FFC,HBL, BAFL and MTL witnessed profit taking as they lost 261, cumulatively. “Over 666.3 million shares were traded today, with a cumulative value of Rs27.8 billion. BOP emerged as the volume leader, with over 195.5 million shares traded,” Najib said.

The KSE-30 index also fell 0.23 per cent to 35,311.42.

Brokerage firm Topline Securities said in its note that the local “bourse experienced a range-bound session, with the benchmark index oscillating between an intraday high of 426 points and a low of 389 points.

The brokerage firm added that investor sentiment remained “mixed following the latest MSCI review, where ABOT and SEARL were included in the MSCI Frontier Market Index, while BFBIO, BIFO and Power Cement were added to the MSCI Frontier Market Small Cap Index. However, the review fell short of market expectations, leading to subdued activity.”

Bank of Punjab (BOP) led the market with 195.5 million shares traded, closing 9.97 per cent higher at Rs11.91. Other high-volume stocks included Bank Makramah (+8.29 per cent), PTCL (+9.2 per cent), and Hascol Petroleum (+10.02 per cent), all reflecting strong investor interest.

Energy stocks saw mixed performance, with Pak Refinery (PRL) up 3.08 per cent, closing at Rs35.48, while Cnergyico PK edged down 0.27 per cent to Rs7.43. The banking sector remained active, with Soneri Bank and United Bank Limited (UBL) posting gains, while MCB Bank and HBL saw slight declines. Unilever Pakistan Foods Limited surged Rs508.57 to close at Rs23,923.99, leading the gainers. Rafhan Maize Products followed with a Rs93.25 increase to Rs9,458.3. On the downside, Ismail Industries Limited fell Rs47.81 to Rs1,852.19, while Bata Pakistan Limited dropped Rs38.91 to Rs1,861.27. In the futures market, 326 companies recorded trading, 127 of which increased, 192 decreased and 7 remained unchanged.