KEY POINTS
- KSE-100 Index extended its losing streak to seven sessions, closing at 156,732.87 points, down 1,732.18 points or 1.09%.
- The benchmark has shed over 10,500 points in the last seven trading sessions amid persistent selling pressure.
- Trading volume on the all-share index fell to 848.30 million shares, with a total value of Rs 37.61 billion, compared with Rs 41.31 billion a day earlier.
ISLAMABAD: The Pakistan Stock Exchange (PSX) on Thursday witnessed another steep decline as selling pressure persisted for the seventh consecutive session
Short-selling and profit-taking pulled the benchmark KSE-100 Index down by over 1,700 points amid rollover activity and weak institutional participation.
After opening on a positive note, the index hit an intra-day high of 159,507.41 points but could not sustain momentum, sliding to a low of 156,327.60 before closing at 156,732.87, down 1,732.18 points or 1.09 per cent over the previous session.
According to data available on the PSX website, the all-share index recorded a turnover of 848.30 million shares, lower than 951.84 million a day earlier.
Meanwhile, the traded value declined to Rs 37.61 billion from Rs 41.31 billion.
The KSE-100’s decline was largely driven by profit-taking in major banking, fertiliser and technology counters as investors trimmed positions ahead of the rollover week, PSX data showed.
Market participants said overall sentiment remained weak amid mixed corporate results.
In the seven-session slide, the KSE-100 has shed over 10,500 points, wiping out a substantial portion of recent gains and raising concerns about sentiment ahead of next week’s settlement.
Market summary
A total of 475 companies were traded, of which 148 closed higher, 293 declined, and 34 remained unchanged. Bank of Punjab led the volumes with 84.18 million shares, followed by WorldCall Telecom (50.19 million) and K-Electric Ltd (47.80 million).
Global markets
Regional equities posted moderate gains after the US Federal Reserve cut interest rates by 25 basis points and as US President Donald Trump and Chinese President Xi Jinping met in Busan to reach an agreement over trade and tariff issues.
The MSCI Asia-Pacific index (ex-Japan) rose 0.4 per cent, while the Nikkei 225 was last up 0.2 per cent.
Analysts said local investors remained cautious despite global tailwinds, citing weak corporate results and limited institutional activity as key drags on sentiment.
