PSX ends the day in the red
KARACHI: The Pakistan Stock Exchange (PSX) experienced a rangebound trading session and ended in the red, as investors adopted a cautious stance ahead of the weekend.
The benchmark KSE-100 Index lost 313 points or 0.26 percent to close at 119,649.14 points on Friday compared to 119,962 points on Thursday. The index also touched intraday high level of 120,506.18 points and low level of 119,541.15 points. Overall, some 572 million shares were traded on Friday down from 699 million a day earlier.
On Friday, BRIndex100 opened at 12,887.79 points and finally closed at 12,827.18 points, which was 60.61 points or 0.47 percent lower than previous close. Total volume at BRIndex100 remained 485.862 million shares. BRIndex30 also lost 283.6 points or 0.74 percent to settle at 37,832.52 points with the total volume of 265.744 million shares.
Analysts at the Topline said the lackluster market activity can be attributed to the absence of triggers and investor`s preference to remain on sideline before the weekend after the index gained to close at its ever-high level. Trading activity was subdued due to a lack of triggers and investors' cautious stance ahead of the weekend, following the index's Thursday's record high.
The share trading value decreased to Rs.29.02 billion on Friday as compared to Rs39.08 billion a day earlier. However, the market capitalization rose by Rs 4 billion to Rs.14.38 trillion. Out of the total 465 companies, 206 companies share prices went up while share value of 209 companies went down, though 50 companies' share value remained unchanged.
Key contributors to the index's performance included ENGRO, SYS, BAHL, UBL, and BAFL, which collectively added 271 points. Conversely, FFC, LUCK, MARI, OGDC, PSO, and EFERT detracted from the index's gains, cumulatively weighing it down by 476 points.
PIA Holding Company LimitedB along with Khyber Textile Mills Limited remain the top gainers increasing by Rs1,132.52 and Rs.107.59 respectively to close at Rs.12,457.67 and Rs.1,183.53, while Unilever Pakistan Foods Limited and Nestle Pakistan Limited were the top losers declining by Rs.156.31 and Rs.88.22 respectively to close at Rs.22,725.50 and Rs.7,091.78.
BR Automobile Assembler Index closed at 22,183.52 points, with a negative change of 104.6 points or 0.47 percent, with a turnover of 7.52 million shares. BR Cement Index ended at 10,192.04 points, posting a loss of 100.14 points or 0.97 percent, on a turnover of 29.97 million shares.
BR Commercial Banks Index closed at 34,915.06 points or 0.61 percent up, with 27.19 million shares traded. Meanwhile, BR Power Generation and Distribution Index ended at 19,720.72 points, going down by 90.92 points or 0.46 percent, with a total turnover of 31.24 million shares.
BR Oil & Gas Index closed at 11,767.44 points or 1.11 percent down, on 36.26 million shares turnover. BR Technology & Communication Index finished at 4,988.20 points marking a positive change of 7.76 points or of 0.16 percent, with total turnover of 64.48 million shares traded.
Ahsan Mehanti of Arif Habib Corporation said that stocks closed lower amid dismal economic data on RDA inflows falling by 25pc month-on-month to $177 million and lower current account surplus at $12 million for April 25. Fears over IMF driven new tax measures in the federal budget FY26 also impact the sentiments, he added.
Mehanti also said that falling global crude oil prices, concerns over lower Industrial base tariff reduction for government claimed IPPs revised contracts savings and senate approval of IMF driven higher grid levy under CPP Levy Bill 2025 played a catalyst role in bearish close.
Analysts said investor interest was observed in the engineering sector in second half of trading where the heavily import dependent sector gained, largely on news that Prime Minister on Friday has directed to abolition Additional Custom Duty (ACD), which currently ranges from 2 percent to 7 percent and Regulatory Duty (RD), which currently ranges from 5 percent to 90 percent over the next four to five years. Additionally, Prime Minister has also approved a proposal to cap customs duty (CD) at a maximum of 15 percent. At present, CDs can exceed up to 100% on some items, they added.
Copyright Business Recorder, 2025
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