KSE-100 down 158 points amid profit-taking

KARACHI: The Pakistan Stock Exchange (PSX) started the day on a positive note on Thursday, but the benchmark KSE-100 index closed lower by 158 points later in the day amid profit-taking.

The benchmark KSE 100 Index decreased by 157.87 points, or 0.13 per cent, to 121,641 points, down from 121,798.87 points recorded in the last session. The highest index of the day remained at 122,281.58 points, while the lowest level was recorded at 121,517.9 points.

Analyst Ahsan Mehanti at Arif Habib Corp said, “Stocks closed lower following reports that the IMF is demanding strict compliance on agricultural taxation and opposing provincial energy subsidies.”

He said that expected higher taxes on banking and saving schemes income, POL levies in Budget FY26, rupee instability and dismal data on exports contracting by 10 per cent YoY in May played a catalyst role in the bearish close.

The KSE-30 index decreased by 156.03 points or 0.42 per cent to 36,827.89 points from 36,983.92 points.

Traded shares rose by 144 million shares to 854.617 million shares from 710.591 million shares. The trading value decreased to Rs25.793 billion from Rs35.216 billion. Market capital narrowed to Rs14.728 trillion against Rs14.749 trillion. Of the 478 companies active in the session, 217 closed in green, 208 in red and 53 remained unchanged.

Mubashir Anis Naviwala, an analyst at JS Global, said market opened on a positive note, surging to a new intraday high of 122,281, driven by early bullish sentiment. However, profit-taking dragged the market down. Top activity was seen in SSGC, FFL, KEL, ICIBL and FABL.

“We expect the market to remain positive in the near term, supported by strong sectoral momentum and improving investor sentiment,” he said. “Investors are advised to capitalise on any dips by accumulating fundamentally strong stocks, particularly in the banking, cement, and fertilizer sectors.”

The highest increase was recorded in Rafhan Maize Products Company Limited, which rose by Rs114.29 to Rs9,855.72 per share, followed by Pakistan Engineering Company Limited, which increased by Rs81.93 to Rs901.23 per share. A significant decline was noted in PIA Holding Company Limited B, which fell by Rs3,198.89 to Rs28,789.98 per share; Khyber Textile Mills Limited followed it, which closed lower by Rs303.91 to Rs2,735.17 per share.

K-Electric Ltd remained the volume leader with 179.677 million shares, which closed higher by 42 paisas to Rs5.83 per share. Unity Foods Ltd, with 62.902 million shares, followed it, which closed higher by 75 paisas to Rs26.89 per share.

Other significant turnover stocks included WorldCall Telecom, Invest Bank, Fauji Foods Ltd, Treet Corp, Dewan Cement, PIA Holding Company, BO Punjab, and Sui South Gas. In thefutures market, 314 companies recorded trading, 132 of which increased, 175 decreased and 7 remained unchanged.