KARACHI: The Pakistan Stock Exchange (PSX) witnessed broad-based selling on Wednesday as the KSE-100 index shed 903.12 points, or 0.53 per cent, to close at 169,427.44, against the previous session’s close of 170,330.56.
The market remained under pressure throughout the day and witnessed a sharp decline amid geopolitical uncertainty. The index touched an intraday high of 170,729.57 before retreating to a low of 169,346.38 as bears tightened their grip through the session. The KSE-30 index declined 279.32 points to finish at 50,457.84.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX witnessed a mixed session. Investor sentiment remained subdued as renewed overnight tensions between the US and Iran weighed on market confidence. The absence of clarity on the geopolitical front kept momentum fragile, prompting investors to adopt a cautious stance and largely remain on the sidelines.
“Going forward, geopolitical developments remain the primary market driver. Until greater clarity emerges on the US-Iran front, investor sentiment is likely to remain cautious, with market direction continuing to be dictated by regional headlines and risk perceptions,” he said.
Ready market turnover rose to 791.64 million shares from 767.45 million in the prior session, a gain of 3.15 per cent. Traded value, however, contracted to Rs25.48 billion from Rs27.18 billion, a drop of 6.23 per cent. Market capitalisation settled at Rs18.85 trillion, compared with Rs18.91 trillion previously, a decline of 0.32 per cent.
Market breadth was negative, with 191 stocks advancing against 258 declining and 39 unchanged out of a total of 488.Among gainers, Sapphire Textile Mills surged Rs120.2 to close at Rs1,514.13, while Rafhan Maize Products added Rs102.76 to settle at Rs9,547.15.
On the downside, PIA Holding Company tumbled Rs1,212 to close at Rs17,178, and Sindh Abadgars Sugar Mills fell Rs31.71 to Rs374.3.According to Topline Sales Desk, the local bourse witnessed a volatile trading session, as investors navigated sharp swings in market sentiment. The benchmark index remained turbulent throughout the day, reflecting heightened uncertainty and cautious investor behaviour. Despite intermittent recovery attempts, sustained selling pressure across key sectors kept the market under strain.
The wide intraday range reflected a tug-of-war between cautious optimism and lingering concerns, with sentiment remaining fragile as participants assessed evolving macroeconomic cues while positioning ahead of key market triggers.
On the index contribution front, heavyweight stocks including MEBL, ISL, POL, INIL, and ILP collectively added 183 points to the benchmark index. On the other hand, BAHL, UBL, MCB, ENGROH and OGDC weighed on performance, collectively eroding 464 points from the index.
TPL Properties led turnover with 64.04 million shares, gaining 11 paisas to close at Rs11.42, followed by TPL Corp with 40.65 million shares, advancing 38 paisas to Rs14.70. The remaining most-traded stocks were Telecard Limited, Loads Limited, Oilboy Energy, Amreli Steels, Agha Steel Industries, WorldCall Telecom, TPL REIT Fund I and Beco Steel.In the futures market, 310 contracts were traded, with 101 recording increases and 207 recording decreases, while two remained unchanged.
