Key Points
- Market swings both ways as profit-taking trims early gains
- Benchmark index settles nearly unchanged at 156,177.81
- Turnover about 1.5 billion shares; value ~PKR 49 billion
- WorldCall, BoP, and K-Electric lead trading volumes
ISLAMABAD: The Pakistan Stock Exchange (PSX) experienced a turbulent session on Wednesday, with sharp swings on both sides as investors booked profits after a prolonged rally, leaving the benchmark index virtually unchanged by the closing bell.
The KSE-100 Index touched an intraday high of 157,196.58 before profit-taking pulled it down to 155,960.35, eventually closing at 156,177.81, down just 3.13 points. According to PSX data, the total turnover stood at 1.499 billion shares with a traded value of PKR 48.85 billion, while market capitalisation slipped slightly to PKR 18.35 trillion.
“After nine consecutive winning sessions, today’s consolidation was natural as investors opted to realise gains,” said Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company, in remarks reported by Business Recorder.
WorldCall Telecom led activity with about 138 million shares, followed by Bank of Punjab (72.5 million) and K-Electric (61.3 million). Of the 485 active scrips, 235 closed higher, 219 fell, and 31 remained unchanged.
Top gainers included Mehmood Textile Mills (up 9.87%), Murree Brewery (up 7.49%), and Shield Corporation (up 7.46%), while major losers were Lotte Chemical (down 6.95%), Pakgen Power (down 6.12%), and Tri-Pack Films (down 6.06%).
Regionally, Asian stocks were subdued ahead of the U.S. Federal Reserve’s policy decision. MSCI Asia-Pacific ex-Japan eased 0.2%, Japan’s Nikkei slipped 0.1%, while European and U.S. futures edged higher. Reuters reported that investors are bracing for a quarter-point Fed rate cut and guidance from Chair Jerome Powell.
In the currency market, the rupee inched up to 281.50 per U.S. dollar, marking its 25th straight gain, according to State Bank data.
