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PSX tumbles, trims losses by midday but remains in red

PSX tumbles, trims losses by midday but remains in red

Web Desk
Jul 09, 2025

KARACHI: The Pakistan Stock Exchange (PSX) remained under pressure on Wednesday, as the benchmark KSE-100 Index plunged more than 1,000 points during early trading before trimming some losses by midday. However, the market stayed in the red amid continued investor uncertainty.

The index fell sharply to an intraday low of 132,326.17 at 10:32am, down 1,077.02 points from Tuesday’s close of 133,403.19. By noon, the index had recovered slightly to 132,699.05, still reflecting a loss of 704.14 points or 0.53 per cent. During the session, the index also touched a high of 133,566.37.

Market sentiment remained bearish, with analysts pointing to investor profit-taking, ongoing concerns about the government’s economic direction, and a lack of clarity on the status of negotiations with the International Monetary Fund (IMF). Heavyweights in the banking, cement, and energy sectors were among the top laggards, contributing to the day’s volatility.

Among the day’s top gainers, Pak Aluminium Beverage Cans (PASM) led with a 13.37 per cent increase, closing at Rs5.85, up Rs0.69. Gold Stone Power (GSPM) rose 12.47 per cent to Rs4.51, while TPL Trakker (TPLT) also climbed 12.47 per cent to end at Rs9.02. TRG Pakistan (TRSM) added 11.47 per cent to reach Rs9.72, and Dewan Sugar (DSIL) jumped 11.20 per cent to Rs6.85. Other notable advancers included Highnoon Laboratories (HICL), Kohinoor Energy (KOHE), Faran Textile (FTMM), Kohat Mills (KML), and Leiner Pak Gelatine (LPGL), each gaining over 10 per cent.

On the declining side, ACI Exchange Traded Fund (ACIETF) was the worst performer, dropping 9.57 per cent to Rs15.96. Haleon Pakistan (HAEL) slipped 8.54 per cent to Rs24.62, while Serat Papers (SERT) shed 6 per cent to close at Rs23.50. Aruj Industries (ARUJ), Indus Dyeing (IDSM), and Ambee Pharmaceuticals (AMBL) also lost ground, along with ESBL, FPRM, MRNS, and MSOT, which all fell between 4 and 5 per cent.

The benchmark index had ended Tuesday’s session at 133,403.19, up by 33.05 points or 0.02 per cent. During that session, it traded within a wide range of 1,503.92 points, hitting an intraday high of 134,200.27 and a low of 132,696.35. Total traded volume stood at 324.46 million shares.

Despite Wednesday’s dip, market experts remain optimistic about the long-term outlook. According to a recent report by Arif Habib Limited, the KSE-100 Index is projected to reach 168,000 points by the end of FY26, implying a potential upside of 27.4 per cent from its July 4 closing level of 131,949.