PSX ends with significant downturn
The benchmark KSE100 Index recorded a substantial decline of 1,505.11 points or 1.23 percent, to settle at 120,466 points. This marks a sharper retreat compared to yesterday's 0.21 percent loss. Throughout the day, the index navigated a volatile range, peaking at 121,905.50 points before finding its intraday low at 120,418 points.
On Wednesday, BRIndex100 closed at 12,977.46 points, down by 141.94 points or 1.08 percent, with a total volume of 476.34 million shares. BRIndex30 closed at 37,255.87 points, a decrease of 727.23 points or 1.91 percent, with a total volume of 297.43 million.
'Weak global equities, a falling rupee, and persistent concerns over the economic outlook triggered panic selling at the PSX,' said Ahsan Mehanti, Director at Arif Habib Corporation. Stocks fell across the board on Wednesday, as elevated Middle East tensions and investor concerns over a dismal $103 million current account deficit for May 2025 — driven by surging imports — further dampened investor sentiment. The combination of external pressures and weak macroeconomic indicators played a catalyst role in dragging the market lower.
Trading activity saw a notable contraction across all segments compared to the previous day, indicating reduced investor participation amid the prevailing apprehensions.
Total turnover in the Ready Market declined sharply to approximately 707.30 million shares, a substantial drop from yesterday's 1.15 billion shares. Concurrently, the traded value in the Ready Market also decreased to approximately Rs 21.27 billion from Rs 27.98 billion. The overall market capitalization experienced a significant contraction of approximately Rs 170.35 billion, shrinking from Rs 14.780 trillion yesterday to Rs 14.610 trillion today.
Among the top companies by turnover in the Ready Market, WorldCall Telecom once again led the charge with a substantial 110.91 million shares traded, closing at Rs 1.50. Prud Mod. Ist followed with 51.71 million shares that closed at Rs 4.61, and Pervez Ahmed Co saw 41.07 million shares change hands and finished at Rs 3.15.
In terms of price movements, Macter International Limited surged by Rs 46.72 to close at Rs 513.90, and Hinopak Motors Limited gained Rs 41.00 to finish at Rs 451.03. On the losing end, PIA Holding Company Limited experienced a sharp decline of Rs 1,530.02, settling at Rs 13770.15, while Unilever Pakistan Foods Limited dropped by Rs 211.00 to close at Rs 22,989.00.
The market breadth overwhelmingly skewed towards the negative, signalling widespread selling pressure. In the Ready Market, a mere 102 companies advanced, while a significant 327 declined and 41 remained unchanged out of the total 470 traded entities.
The BR Automobile Assembler Index closed at 20,468.16, marking a negative change of 308.15 points or 1.48 percent, with a total turnover of 3.97 million shares. The BR Cement Index concluded at 10,241.72 points, down by 132.91 points or 1.28 percent, and recorded a total turnover of 33.43 million.
Meanwhile, the BR Commercial Banks Index while experiencing a decrease of 356.49 points or 0.97 percent finished at 36,512.82 points, with a total turnover of 50.65 million.
The BR Power Generation and Distribution Index closed at 20,846.64, reflecting a negative change of 565.63 points or 2.64 percent, and a total turnover of 13.45 million. The BR Oil and Gas Index ended at 11,550.92, declining by 175.32 points or 1.5 percent, with a total turnover of 51.91 million. Lastly, the BR Technology & Communication Index closed at 2,864.30, showing a decrease of 82.49 points or 2.8 percent, and a total turnover of 138.95 million.
In its commentary, the Topline Securities cited that the PSX endured a lacklustre trading session on Wednesday, mirroring the nervous sentiment across global markets. It said that rising geopolitical tensions, particularly the escalating standoff between Iran and Israel, weighed heavily on investor confidence. The atmosphere of uncertainty prompted a risk-averse approach, leaving the market directionless for most of the day.
Copyright Business Recorder, 2025
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