KEY POINTS
- KSE-100 Index closes down 1,496.93 points or 0.89% at 166,145.34
- Heavyweights FFC, MEBL, UBL, HUBC, and ENGRO led the decline
- Volume decreases to 593.08 million shares, value rises to Rs 44.42 billion
- Market expected to consolidate in 166–168k range before potential recovery, analysts say
ISLAMABAD: Selling pressure dominated trading at the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index closing at 166,145.34, down 1,496.93 points or 0.89 per cent, according to the PSX data.
The market witnessed negative sentiment throughout the session, hitting an intra-day low of 166,115.17.
Topline Securities said in its post-market report that major heavyweights, including FFC, MEBL, UBL, HUBC, and ENGRO, collectively erased around 858 points from the benchmark.
“Moving ahead, the market is expected to continue consolidating within the 166–168k range before attempting another push toward a new all-time high.
On the downside, the 165k level is likely to serve as the first key support,” Ali Najib, Deputy Head of Trading at Arif Habib Ltd, told Business Recorder.
Trading activity remained moderate, with volume on the all-share index decreasing to 593.08 million shares from 775.54 million in the previous session.
The rise in traded value despite lower volume reflected activity concentrated in higher-priced stocks. The total value of traded shares rose to Rs 44.42 billion from Rs 37.49 billion.
WorldCall Telecom led volumes with 78.64 million shares, followed by Hub Power Co at 46.64 million, and TRG Pak Ltd at 33.19 million.
Of the 473 companies traded, 136 advanced, 291 declined, and 46 remained unchanged.
On the corporate front, PSX advised K-Electric Limited (KE) to submit outstanding annual financial statements and hold annual general meetings for FY24 and FY25 no later than March 31, 2026.
Globally, Asian shares recovered modestly following overnight gains on Wall Street, while Bitcoin reclaimed the $90,000 level.
Analysts noted that calmer markets and expectations of a potential US Federal Reserve rate cut next week helped improve investor sentiment.
