KARACHI
The Pakistan Stock Exchange (PSX) concluded the trading week on a bearish note Friday, as profit-taking dominated across key sectors and sentiment turned cautious amid geopolitical developments.
The benchmark KSE-100 Index extended its losses, falling by 1,432.62 points or 0.87 percent to close at 163,098.19 points compared with the previous session’s 164,530.81 points. Throughout the session, the index oscillated between an intraday high of 165,262.86 points and a low of 162,411.26 points before settling near the day’s bottom.
BRIndex100 closed at 17,047.60 points, down by 109.27 points or 0.64 percent compared with the previous close. The total volume for the index stood at 1,224.035 million shares. Likewise, BRIndex30 ended the session at 54,150.06 points, showing a decline of 156.73 points or 0.29 percent, with a total volume of 924.38 million shares.
Topline Securities observed that the KSE-100 Index extended its losses as selling pressure persisted throughout the session. The brokerage attributed the market’s decline to reports of strikes by Pakistan’s armed forces targeting the leader of the banned terror outfit Tehreek-i-Taliban Pakistan (TTP) in Afghanistan, which led to cautious investor behavior.
Market activity weakened as trading volumes and values declined from the previous session. The ready market turnover dropped to 1.401 billion shares from 1.570 billion shares recorded a day earlier, while the traded value decreased to Rs47.79 billion compared with Rs50.53 billion previously. The overall market capitalization shrank to Rs18.91 trillion from Rs19.06 trillion in the preceding session, marking an erosion of around Rs154 billion in market value.
Investor participation remained subdued, with market breadth favoring the bears. Out of 479 companies traded in the ready market, 145 advanced, 302 declined, and 32 remained unchanged.
K-Electric Limited emerged as the volume leader, with over 199.99 million shares traded during the day. The stock finally closed at Rs7.13. WorldCall Telecom followed with 143.93 million shares traded, closing at Rs1.73. The Bank of Punjab remained active with a turnover of 90.24 million shares, closing at Rs32.07.
In terms of price movement, Supernet Technologies Limited recorded the highest gain of the session, rising by Rs166.33 to close at Rs1,848.99. Rafhan Maize Products Company Limited followed with an increase of Rs123.93 to close at Rs9,878.99. On the other hand, Unilever Pakistan Foods Limited suffered the sharpest decline, losing Rs317.64 to settle at Rs29,850.00, while PIA Holding Company Limited (B) dropped by Rs176.94 to close at Rs24,694.05.
The BR Automobile Assembler Index closed at 25,012.98 points, showing a decline of 299.69 points or 1.18 percent, with a total turnover of 3.46 million shares. The BR Cement Index finished marginally lower at 13,037.91 points, down 5.25 points or 0.04 percent, with a total turnover of 55.42 million shares.
The BR Commercial Banks Index fell 403.73 points, or 0.82 percent, to close at 49,093.12 points, with a total turnover of 148.58 million shares. Meanwhile, the BR Power Generation and Distribution Index was one of the few gainers of the day, closing at 28,040.49 points with a net positive change of 80.12 points or 0.29 percent, and a total turnover of 214.71 million shares.
The BR Oil and Gas Index declined by 163.41 points, or 1.14 percent, to close at 14,167.06 points, while the BR Technology and Communication Index fell 58.21 points, or 1.48 percent, to settle at 3,874.35 points, with a robust turnover of 359.73 million shares.
Analysts noted that the session concluded with overall weakness in market sentiment, as investors opted to reduce exposure amid profit-taking and external uncertainties.
