KARACHI: The KSE-100 index shed 1,576.48 points, or 0.91 per cent, on Wednesday to close at 171,579.31 against the previous session’s close of 173,155.79. The market sentiment remained mixed but volatile, as investors were uncertain over the timing of the second round of the US-Iran dialogue.
The index touched an intraday high of 173,452.66 and a low of 171,254.82 during the session. The KSE-30 index lost 515.68 points, or 0.98 per cent, to close at 52,105.13.Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX recorded a lacklustre session. The market remained volatile throughout the day, swinging in both directions, but ultimately settled in the red amid uncertainty surrounding the timing of the US-Iran dialogue.
UBL, LUCK, PPL, HBL and OGDC shed 763 points while HUBC, BAHL, FFC, PSO and ATRL added 304 points, collectively. “Amid uncertainty over the second round of US-Iran talks in Islamabad, sentiment is likely to stay cautiously supportive but highly fragile. Any progress could uplift confidence, while delays or negative developments may trigger volatility, keeping markets largely headline-driven with swift reactions to geopolitical cues in the near term,” Najib said.
Turnover in the ready market declined 9.55 per cent to 1.054 billion shares from 1.165 billion shares in the previous session. Traded value fell 32.12 per cent to Rs37.294 billion from Rs54.942 billion. Market capitalisation declined 0.99 per cent to Rs18.971 trillion from Rs19.161 trillion.
Market breadth turned negative with 141 companies advancing against 303 declining and 42 unchanged out of 486 traded. Among the top gainers, Khairpur Sugar Mills Limited advanced Rs90.49 to close at Rs1,015.17, while Khyber Textile Mills Limited rose Rs34.76 to close at Rs1,666.61. On the downside, PIA Holding Company Limited declined Rs599.49 to close at Rs17,421.80, while Rafhan Maize Products Company Limited shed Rs93.93 to close at Rs9,410.13.
Naveed Nadeem, senior equity trader at Topline Securities Limited, said the KSE-100 Index ended the session amid heightened volatility. The market experienced notable swings throughout the day, reflecting cautious investor sentiment amid escalating geopolitical tensions.
Key index constituents, including UBL, LUCK, PPL, HBL and OGDC, remained under sustained selling pressure, collectively eroding 762 points from the benchmark. Unity Foods Limited led ready market volumes with 133.361 million shares, gaining 99 paisas to close at Rs13.53. Cnergyico PK followed with 77.183 million shares, advancing 13 paisas to close at Rs8.23. WorldCall Telecom, Yousuf Weaving, Bank of Punjab, Clover Pakistan, Kohinoor Spinning, Agha Steel Industries, Hascol Petroleum, and Beco Steel were also among the active counters.In the futures market, 323 contracts were traded, with 57 advancing, 264 declining, and 2 unchanged.
