KARACHI: Pakistan's stock market extended its losing streak on Thursday, with selling pressure widening across the board as the benchmark KSE-100 Index fell by 1,437.05 points, or 0.92 per cent, to close at 154,421.43 points, down from the previous session's closing of 155,858.48 points.
The index briefly climbed to an intraday high of 157,080.29 points before sellers took control, pushing it down to a session low of 153,503.7 points. The decline was broad-based, with losers significantly outnumbering gainers, reflecting a deterioration in investor sentiment following Tuesday’s historic surge.
The KSE-30 Index also lost ground, falling by 528.79 points, or 1.11 per cent, to close at 47,322.74 points, compared with 47,851.52 points in the prior session.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX witnessed another directionless and volatile trading session. The market experienced notable fluctuations, with the index moving within a 3,577-point range, reflecting cautious investor sentiment and intermittent profit-taking amid lingering uncertainty.
“As the market heads into the final trading session of the week, momentum will largely depend on the stability of geopolitical developments. If external conditions remain calm, the recent positive undertone could support a modest recovery,” he said. “However, investors are likely to maintain a cautious stance, closely monitoring global cues and political developments before taking fresh positions.”
Trading volumes continued to thin. Shares traded in the ready market stood at 404.252 million, down from 441.876 million in the previous session. The traded value slipped marginally to Rs24.674 billion from Rs24.984 billion. Market capitalisation declined to Rs17.366 trillion from Rs17.535 trillion. Of the 471 companies active during the session, only 157 closed in positive territory, while 252 recorded losses and 62 remained unchanged.
The standout gainer of the day was PIA Holding Company Limited, which surged by Rs804.30 to close at Rs17,024.5 per share. Ismail Industries Limited also posted a strong gain of Rs123.63, ending the session at Rs1,973.69 per share. On the declining side, Unilever Pakistan Foods Limited gave back Rs255 to close at Rs25,000 per share after its recent strong run. Sazgar Engineering Works Limited shed Rs67.96 to close at Rs1,871.08 per share.
Maaz Mulla, VP equity sales at Topline Securities Limited, said the market opened under pressure, with early selling pushing the index down. Mid-session optimism sparked a rebound, briefly lifting the market into positive territory. However, the recovery proved short-lived as profit-taking and cautious sentiment amid the ongoing Middle East conflict dragged the index back into the red.
Among index-heavy stocks, ENGROH, SYS, SRVI, EFERT, and HINOON emerged as key gainers, collectively adding 745 points to the index. On the flip side, UBL, LUCK, OGDC, HUBC, and MCB weighed heavily on the market, cumulatively dragging 972 points from the benchmark.
Market participation remained active, with total traded volume reaching 404 million shares, while turnover stood at Rs. 24.67 billion. Hascol led the volume leaders’ board, with trading exceeding 38 million shares.
Hascol Petroleum topped the volume table with 38.337 million shares traded, gaining Rs1.25 to close at Rs17.46 per share. K-Electric Ltd followed with 38.053 million shares, adding 10 paisas to close at Rs7.59 per share.
Other significant turnover stocks included Dost Steels Ltd, WorldCall Telecom, BO Punjab, F Nat Equities, Fauji Cement, Cnergyico PK, Engro Fertilisers, and Pak Int Bulk.In the futures market, 331 companies recorded trading, of which only 83 advanced while 246 declined and two remained unchanged, a decisively bearish picture that mirrored the weakness in the ready market.
