KARACHI: The Pakistan Stock Exchange (PSX) closed marginally higher on Wednesday as the KSE-100 index edged up 118.05 points, or 0.07 per cent, to settle at 180,511.02, against the previous close of 180,392.98, as selling pressure in broader market stocks tempered the day’s gains. The market managed to close in the green despite profit-taking by the investors following two strong sessions.
The index reached an intraday high of 181,357.7 and a low of 179,564.17. The KSE-30 index slipped 80.15 points to close at 53,841.27.Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX ended largely flat. Trading remained range-bound as investors opted for profit-taking following two consecutive strong sessions, resulting in mixed sentiment throughout the day.
On the macro front, Pakistan recorded a trade deficit of $2.8 billion in May 26, while posting a current account surplus of $459mn. During 11MFY26, the trade deficit widened 18.2 per cent YoY to $35 billion, whereas the cumulative current account surplus stood at $255 million.
Meanwhile, expectations of a US-Iran ‘Peace Deal MoU’ supported sentiment by raising hopes of lower oil prices and improved regional stability.“The market may continue to remain bullish in the near term considering supportive macro indicators, easing geopolitical risks, and expectations of softer oil prices should continue to underpin the broader positive trend,” Najib said.
Ready market turnover rose marginally to 1,230.54 million shares from 1,224.4 million shares in the previous session. Traded value eased 1.43 per cent to Rs69.22 billion from Rs70.22 billion, while market capitalisation inched up 0.36 per cent to Rs20.13 trillion from Rs20.05 trillion.
Market breadth was negative, with 206 stocks advancing against 259 declining and 30 unchanged.Among the top gainers, Pakistan Engineering Company Limited rose Rs64 to close at Rs703.99, while Shifa International Hospitals Limited added Rs43.1 to close at Rs541.06. On the downside, PIA Holding Company Limited shed Rs583.43 to close at Rs17,454, and Siemens (Pakistan) Engineering declined Rs28 to close at Rs1,522.19.
According to Topline Sales Desk, the benchmark KSE-100 Index closed Wednesday’s session on a marginally positive note. Despite ending in the green, the market witnessed significant intraday volatility as investors engaged in profit-taking following the strong rally recorded over the previous two trading sessions.
Investor sentiment remained supported by easing concerns over global oil prices and improving expectations regarding geopolitical stability, particularly following recent developments related to a potential US-Iran agreement and the anticipated reopening of the Strait of Hormuz. However, profit-taking in select heavyweight sectors limited overall gains.
On the index contribution front, index heavyweights FATIMA, PPL, OGDC, MTL and SHFA emerged as the primary drivers of upside momentum, collectively contributing 611 points to the benchmark’s gain.
Service Long March led ready market turnover with 189.43 million shares, rising Rs1.75 to close at Rs25.90, followed by Kohinoor Spinning with 72.28 million shares, gaining 42 paisas to close at Rs6.48. Other most-traded stocks were K-Electric Ltd., Cnergyico PK, Sui South Gas, Bank of Punjab, Pak Int. Bulk, TPL Corp Ltd, Maple Leaf and Treet Corp.In the futures market, 313 contracts were traded, with 136 increasing in value, 174 declining and 3 unchanged.
