KARACHI: The Pakistan Stock Exchange concluded Thursday’s trading session on a strongly negative note, with the KSE-100 Index recording a steep decline amid intense selling in heavyweight stocks.
At market close, the KSE-100 Index stood at 152,907.97 points, down by 5,405.48 points, marking a 3.41% decrease compared to the previous session. The trading day started on a relatively stable note, but selling pressure intensified as the session progressed, pushing the market firmly into bearish territory.
The index moved within a wide range during the day, hitting a high of 157,591.24 points before sliding sharply to a low of 152,668.08 points. This significant fluctuation reflects heightened volatility and uncertainty among investors.
In terms of market movers, a handful of stocks showed resilience. PKGS led the gainers with a contribution of 17.19 points, followed by NESTLE and PABC, which added modest gains. However, the overall market direction remained negative due to strong downward pressure from key sectors.
Major losses were recorded in prominent stocks, with UBL taking the lead among decliners. Its sharp drop significantly impacted the index. Other major contributors to the decline included FFC, ENGROH, LUCK, and HUBC, all of which posted substantial losses, dragging the overall market down.
The trading volume of KSE-100 index stocks remained healthy at 313.13 million shares, indicating strong participation despite the negative trend. This suggests that investors were actively selling positions rather than staying on the sidelines.
Looking at broader trends, the market still holds a FYTD gain of over 21%, reflecting strong performance earlier in the fiscal year. However, the negative CYTD figure of -12.15% highlights the recent downturn and increasing pressure on equities.
Experts suggest that the decline may be driven by profit-taking, global economic concerns, and local market uncertainty. Investors appear to be adopting a cautious approach, reducing exposure to riskier assets in the short term.
In conclusion, the PSX ended the day in deep red, with significant losses in major stocks overshadowing limited gains. The coming sessions will be crucial in determining whether the market stabilizes or continues its downward trajectory.
