After a strong seven-session rally that propelled the market to record highs, Pakistan’s stock market experienced a downturn as selling pressure entered the market on Wednesday. The KSE-100 Index concluded the day at 90,286.56, marking a loss of 577.53 points or 0.64%. The index, which traded within a range of 1,869.32 points, reached an intraday high of 91,872.63 (+1,008.54) and a low of 90,003.31 (-860.78), reflecting heightened volatility.
Market Volume and Performance Breakdown
The total trading volume on the KSE-100 Index reached 240.63 million shares, with 36 companies closing higher, 61 lower, and 3 unchanged. Key stocks that pulled the index lower included National Bank of Pakistan (NBP) with a drop of 6.75%, KOSM (-6.17%), MUGHAL (-5.80%), SEARL (-5.67%), and AKBL (-4.42%). Meanwhile, the day’s top gainers were BNWM (+10.01%), NCPL (+10.00%), PGLC (+9.97%), EFUG (+9.94%), and MEHT (+9.50%).
In terms of individual company contributions, major laggards in terms of index-point impact were FFC (-116.79 points), NBP (-77.10 points), HUBC (-57.27 points), UBL (-56.39 points), and HBL (-52.95 points). On the positive side, companies that supported the index included SYS (+112.04 points), PPL (+80.61 points), MEHT (+34.55 points), GLAXO (+25.34 points), and EFERT (+23.71 points).
Sector Performance
Sector-wise analysis revealed that the KSE-100 Index was primarily weighed down by Commercial Banks (-215.39 points), Fertilizer (-137.28 points), Cement (-129.34 points), Oil & Gas Marketing Companies (-82.29 points), and Food & Personal Care Products (-32.65 points). Conversely, Technology & Communication (+92.49 points), Oil & Gas Exploration Companies (+22.32 points), Automobile Assemblers (+11.33 points), Insurance (+10.34 points), and Pharmaceuticals (+8.06 points) sectors offered some support to the index.
Broader Market Summary
In the broader market, the All-Share Index closed with a decline of 282.08 points, or 0.49%, ending the session at 57,642.35. The total market volume saw a slight increase to 614.56 million shares, up from the previous session’s 602.81 million shares, while the total traded value dropped by Rs0.86 billion to Rs27.34 billion. The market reported 305,380 trades across 444 companies, with 158 stocks closing up, 233 down, and 53 remaining unchanged.
The top ten stocks by trading volume included SILK, which surged by 9.26% with a trading volume of 68.5 million shares, SEARL, WTL, FFL, HUMNL, SSGC, PIAHCLA, PPL, WAVES, and BOP.
KSE-100 Index Gains Year-to-Date
Despite Wednesday’s decline, the KSE-100 Index has delivered significant gains, rising by 11,842 points or 15.10% since the start of the fiscal year and by 27,836 points or 44.57% so far this calendar year. This performance reflects underlying investor confidence, though profit-taking is natural as the index approaches new highs.
Conclusion
After a sustained rally, Wednesday’s dip in the KSE-100 Index highlights a possible shift as investors lock in gains amid higher market levels. Analysts anticipate ongoing market corrections, with support likely from key sectors such as technology, oil, and pharmaceuticals, while commercial banks and cement may continue to see volatility. As the market remains well above historical levels, further developments in both economic and corporate earnings will play a crucial role in defining the market’s trajectory in the coming weeks.
PAKISTAN MARKET NEWS
The Pakistani Rupee (PKR) faced a slight dip in value, losing 5 paisa or 0.02% against the US dollar in Wednesday’s interbank session, settling at PKR 277.79 per USD compared to the previous day’s close at 277.74. During the trading day, the rupee recorded an intraday high (bid) of 277.90 and a low (ask) of 277.75, showing limited movement within a narrow range.
