ISLAMABAD: The Pakistan Stock Exchange (PSX) closed lower on Wednesday as late-session profit-taking reversed earlier gains, bringing an end to its recent record-breaking run.
The trading session began on a positive note, with the benchmark KSE-100 Index climbing to an intra-day high of 147,892.25.
However, gains were short-lived as selling pressure led to a reversal, dragging the index down to an intra-day low of 146,417.80. By the close of the session, the KSE-100 settled at 146,529.30, marking a decline of 476.02 points, or 0.32%.
In a key development, Moody’s Investors Service upgraded Pakistan’s credit rating by one notch—from ‘Caa2’ to ‘Caa1’—citing improvements in the country’s external financial position. The global ratings agency also assigned a stable outlook to the revised rating.
On Wednesday, a total of 647,094,379 shares were traded as compared to 691,658,929 shares on the last working day, whereas the price of shares stood at PKR 40.896 billion against PKR 44.549 billion on the previous trading day.
As many as 487 companies transacted their shares in the stock market, 199 of them recorded gains and 240 met losses, whereas the share price of 48 companies remained unchanged.
The three top trading companies were Yousuf Weaving with 51,807,110 shares at PKR 6.14 per share, Aisha Steel Mill with 48,592,372 shares at PKR 12.92 per share, and Bank of Punjab with 33,751,962 shares at PKR 14.26 per share.
Hoechst Pakistan Limited witnessed a maximum increase of PKE 201.10 per share price, closing at PKR 3,225.80, whereas Sindh Abadgars Sugar Mills Limited was the runner-up with PKR 28.52 rise in its per share price to PKR 313.67.
PIA Holding Company LimitedB witnessed a maximum decline of PKR 328.13 per share, closing at PKR 28,671.87 followed by Unilever Pakistan Foods Limited with a drop of PKR 61.61 in its share price to close at PKR 31,959.00.
On Tuesday, the Pakistan Stock Exchange (PSX) weathered a volatile trading session, ultimately closing at a record high despite sustained profit-taking by investors eager to cash in on recent gains.
The benchmark KSE-100 Index edged up by 75.48 points, or 0.05%, to settle at 147,005.32.
Global trend
Globally, markets rallied on Wednesday as investor sentiment was buoyed by signs of economic resilience and expectations of continued monetary support from central banks.
In the US, Wall Street hit new record highs amid growing confidence that the Federal Reserve will cut interest rates next month.
In Asia, Japan’s Nikkei surged past the 43,000 mark for the first time, rising 1.4% and setting a new all-time high for the second consecutive session. Meanwhile, cryptocurrency ether climbed to its highest level in nearly four years.
The MSCI All Country World Index rose for a second day, reaching a fresh peak of 948.54. A key US inflation report suggested that recent tariffs imposed under President Donald Trump’s trade policies have not yet translated into higher consumer prices.
In Japan, business sentiment among manufacturers improved following a trade agreement with the United States.
