Geopolitical tensions trigger bloodbath
KARACHI: The Pakistan Stock Exchange (PSX) experienced a volatile trading session on Thursday, driven by heightened geopolitical tensions following the Pahalgam incident.
The benchmark KSE-100 Index fell 2,206.33 points, or 1.88 percent to close at 115,020 points on Thursday compared to 117,226 points on Wednesday. The index remained on a downward trajectory, hitting an intraday low of 114,661.20 points. Trading volume at the ready counter also declined, falling to 605 million shares from 672 million shares in the previous session.
On Thursday, BRIndex100 opened at 12,523.83 points and finally closed at 12,255.37 points, which was 268.46 points or 2.14 percent lower than previous close. Total volume at BRIndex100 was 434.369 million shares. BRIndex30 decreased by 937 points or 2.49 percent to settle at 36,723.14 points with a total volume of 282.049 million shares.
Similarly, the total traded value on the ready counter fell to Rs 24.4 billion down from Rs 27.7 billion in the previous session. The market capitalization decreased by Rs 240 billion to Rs 14.100 trillion. Out of 456 active scrips, 83 closed in positive and 339 in negative while the value of 34 stocks remained unchanged.
Ahsan Mehanti of Arif Habib Corp said that stocks fell across the board as investor fear Pak-India retaliation to India moves over occupied Kashmir attacks. Weak rupee, and concerns over deteriorating Pak-India trade ties and cross border tensions played catalyst role in bearish close at PSX, he added.
Power Cement was the volume leader with 37.31 million shares and closed at Rs 14.45 followed by WorldCall Telecom that closed at Rs 1.31 with 31.22 million shares. Sui South Gas ranked third with share trading of 23.4 million shares and it closed at Rs 41.05.
Unilever Pakistan Foods Limited and PIA Holding Company LimitedB the top gainers increasing by Rs 449.98 and Rs 263.83 respectively to close at Rs 23,392.71 and Rs 2,983.90, while Rafhan Maize Products Company Limited and Nestle Pakistan Limited were the top losers declining by Rs 145.00 and Rs 50.99 respectively to close at Rs 8,800.00 and Rs 6,998.00.
According to JS Global the KSE-100 index dropped 1.9 percent amid rising geopolitical tensions which rattled investor confidence. Heightened selling pressure coincided with rollover week and results season fears, forcing cautious behavior. Despite a modest midday recovery, markets remained volatile.
BR Automobile Assembler Index closed at 22,547.39 points, recording a decline of 282.14 points or 1.24 percent, with a total turnover of 5.78 million shares. BR Cement Index ended the day at 14,193.80 points, down by 251.56 points or 1.74 percent, with a trading volume of 76.78 million shares.
BR Commercial Banks Index settled at 32,766.52 points, showing a drop of 648.54 points or 1.94 percent, and a total turnover of 50.80 million shares. BR Power Generation & Distribution Index closed at 19,571.24 points, falling by 349.46 points or 1.75 percent, with 31.11 million shares traded.
BR Oil & Gas Index finished at 11,479.47 points, marking a loss of 224.18 points or 1.92 percent, on a turnover of 49.39 million shares. BR Technology & Communication Index ended the session at 4,695.77 points, with a decline of 111.67 points or 2.32 percent, and a total turnover of 58.78 million shares.
According to Topline, The KSE-100 Index extended Wednesday's losses, remaining under pressure throughout the session. Weighed down by escalating regional tensions between India and Pakistan and the conclusion of futures rollover week, the market adopted a distinctly risk-off tone.
The bulk of the negative contribution came from HUBC, ENGRO, MARI, BAHL, and UBL, which collectively shaved 605 points off the index. Despite the bearish backdrop, trading activity was led by PSO with a traded value of PKR 2.36 billion, followed by MLCF (PKR 2.06 billion), OGDC (PKR 1.78 billion), MARI (PKR 1.68 billion), and SNGP (PKR 1.63 billion), signalling selective interest in key names.
On the corporate front, PAKT reported its 1QFY25 results with an EPS of Rs. 24.53—down 20% QoQ but up 22% YoY. The result came alongside a second interim dividend of Rs. 30/share, mirroring its earlier interim payout.
In the cement space, FCCL posted a 3QFY25 EPS of Rs. 0.87, representing a 47 percent QoQ decline but a 21 percent YoY rise. The cumulative 9MFY25 EPS stood at Rs. 3.84, up 34 percent YoY, though earnings underwhelmed due to higher finance costs and subdued gross margins.
Copyright Business Recorder, 2025
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