PSX update: KSE-100 sheds over 1,000 points amid selling pressure

The Pakistan Stock Exchange saw a rocky start on Wednesday, with the benchmark KSE-100 Index initially opening higher but quickly succumbing to selling pressure.

Trading began on a positive note, and by 9:34 AM, the index had gained 623.88 points to reach 162,316.37 as volumes stood at 1.44 million shares. However, the early optimism faded as the market faced sustained selling in key sectors, pushing the index further into negative territory by mid-morning.

Heavy selling hits major sectors

By 11:10 AM, the KSE-100 had declined by 1,127.64 points, settling at 160,564.85 with total volume reaching nearly 72.9 million shares. Major selling was observed in automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and power generation and refinery sectors.

Heavyweight stocks including ARL, HUBCO, MARI, OGDC, POL, PPL, PSO, SNGPL, SSGC, MCB, NBP, and UBL remained in the red, weighing on overall market sentiment.

As of 11:59 AM, the PSX had recovered marginally, with the KSE-100 inching up by 10.95 points to 161,703.44 on a total volume of over 101 million shares. The index is up 70.98 percent over the past year and 40.46 percent year-to-date. The day’s trading range was recorded between 160,564.85 and 162,316.37, while the 52-week high and low remained at 169,988.62 and 94,180.60 points respectively.

Performers and decliners

Among the most active stocks, FNEL led the decliners with a 10 percent drop to 20.78, followed by PACE, BOP, and BECO, which also fell sharply. On the other hand, gains were seen in HUMNL and PTC, with HUMNL rising 2.67 percent to 15.39.

The top advancers of the session were POWERPS and SGPL, each climbing over 10 percent, along with SPL, TATM, and PAKL, reflecting selective buying in energy and industrial sectors. Major decliners included DWTM, IBLHL, INKL, TSBL, and FECTC, which all recorded double-digit percentage losses.

Previous session recap

Tuesday’s trading had ended with the KSE-100 closing at 161,692.49, down 291.59 points or 0.18 percent. The index had moved within a 1,543-point range, hitting an intraday high of 162,819.85 and a low of 161,276.81, with a total turnover of 162 million shares.