KARACHI: The KSE-100 index closed lower on Thursday, shedding 293.5 points, or 0.18 per cent, to finish the session at 165,517.51 against the previous close of 165,811.01. The rates declined on cautious trade following the record increase a day earlier.
The index touched an intraday high of 166,962.17 and a low of 161,993 during the session. The KSE-30 index fell 151.34 points, or 0.3 per cent, to close at 50,169.05.Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX witnessed a lacklustre day.
During the trading hours, the benchmark index experienced a highly volatile session, oscillating between an intraday high of 166,962 and a low of 161,993. Sentiment remained fluid as the White House confirmed direct US-Iran talks, with JD Vance expected to lead a delegation to Islamabad, even as tensions in the Middle East persist. Local holidays announced across Islamabad and Rawalpindi for April 9-10 further highlighted the significance of the upcoming diplomatic engagement.
The market’s downside was primarily driven by pressure on index heavyweights, notably BAHL, MARI, PPL, HUBC, FFC and MCB which cumulatively dragged the index down by 810 points. However, selective accumulation in UBL, LUCK and FCCL provided a counterbalance, contributing 567 points and enabling a partial recovery from intraday lows.
“Going forward, as we head towards the last session of the week, another range-bound session is expected as all eyes are now Islamabad dialogue which is scheduled over the weekend” Najib said.
Volumes in the ready market came in at 888.57 million shares, down 28.64 per cent from the previous session’s 1.245 billion shares. Traded value stood at Rs54.28 billion, a decrease of 0.23 per cent from Rs54.4 billion, while market capitalisation slipped 0.32 per cent to Rs18.265 trillion from Rs18.323 trillion. Market breadth was negative, with 162 companies advancing, 290 declining and 37 finishing unchanged out of 489 companies traded.
Among the top gainers, PIA Holding Company Limited rose Rs415.04 to close at Rs18,015.05, while Rafhan Maize Products Company Limited added Rs131.06 to end at Rs9,263.41.On the downside, Unilever Pakistan Foods Limited fell Rs177.45 to close at Rs25,820.55, while Hoechst Pakistan Limited shed Rs41.89 to end at Rs3,954.27.
WorldCall Telecom led turnover with 105.84 million shares, gaining 1 paisa to close at Rs1.37. F Nat Equities followed with 81.61 million shares, declining 11 paisas to Rs1.47. The remaining eight companies in the top turnover list were K-Electric Limited, Bank of Punjab, Fauji Cement, Maple Leaf Cement, Nishat ChunPower, Pak Elektron, Cnergyico PK and DGK Cement.In the futures market, 314 companies were traded, of which 124 recorded gains, 189 posted losses and 1 remained unchanged.
