KARACHI:
An absence of optimism coupled with futures rollover headwinds stored traders on the defensive because the Pakistan Inventory Alternate (PSX) logged its third consecutive decline within the present week amid promoting strain.
Within the morning on Wednesday, buying and selling commenced on a constructive observe, with the KSE-100 index briefly climbing to the intra-day excessive of 168,192. Nevertheless, the restoration proved fragile. Because the session progressed, inventory promoting resurfaced, protecting the market confined inside a slim vary by way of late morning.
Stress intensified round noon as traders trimmed positions amid rollover contract-related changes. The index subsequently slipped to the intra-day low of 164,229, reflecting weak spot throughout key sectors resembling banking, cement and oil & fuel. The benchmark KSE-100 index endured a risky session, finally shedding 1,632.25 factors, or 0.98%, to settle at 164,626.29.
Topline Securities wrote that the KSE-100 posted a decline of 1,632 factors amid sustained market volatility. The benchmark traded inside a spread of 168,192 and 164,229, primarily impacted by weak investor sentiment and futures rollover strain. Index-heavy constituents together with United Financial institution, Engro Holdings, Pakistan Petroleum, Fortunate Cement and DG Khan Cement emerged as key laggards, collectively wiping off 928 factors, it mentioned.
KTrade Securities talked about in its market wrap that the KSE-100 prolonged its decline, closing down by 1,632 factors (-0.98%) as promoting strain as soon as once more dominated the session. The index swung practically 4,000 factors intra-day, touching the excessive of 168,192 earlier than dropping to 164,229, and settled close to the day’s low, reflecting sustained promoting.
Optimistic triggers, together with company earnings, did not raise sentiment. Maple Leaf Cement posted outcomes consistent with expectations whereas Nationwide Financial institution introduced robust earnings together with a dividend of Rs35 per share, but the market continued to promote into power.
The shortcoming to maintain early beneficial properties underscored fragile investor confidence. Index heavyweights together with United Financial institution, Engro Holdings, Pakistan Petroleum, Fortunate Cement, DG Khan Cement, Oil & Fuel Improvement Firm, Financial institution AL Habib and Mari Energies weighed on the efficiency, whereas NBP, MCB Financial institution, Financial institution Alfalah and Fatima Fertiliser supplied restricted assist, it mentioned.
Experiences of overseas promoting, significantly in DG Khan Cement and The Searle Firm, coupled with margin calls and the T+1 settlement transition added to liquidity stress. With the 165k degree breached, the near-term outlook stays cautious. Volatility could persist amid overseas outflows and geopolitical uncertainty, KTrade predicted.
Arif Habib Restricted (AHL) noticed that there was one other 1% decline for the KSE-100 to shut under 165k. A complete of 32 shares rose whereas 68 fell with NBP (+4.27%), MCB (+2.5%) and Financial institution Alfalah (+4.42%) being the most important upside contributors. On the flip aspect, UBL (-2.7%), Engro Holdings (-3.04%) and Pakistan Petroleum (-3.23%) have been the biggest index drags.
In company information, Nationwide Financial institution reported CY25 earnings per share (EPS) of Rs39.9, up 227% year-on-year, and in addition introduced highest-ever dividend of Rs35 per share. UBL introduced CY25 EPS of Rs54.48, +82% YoY, and dividend of Rs29.5. Moreover, Airlink Communication (-2.95%) reported 1HFY26 EPS of Rs7.73, up 32% YoY, and dividend of Rs2, which had already been paid.
The decline within the KSE-100 has now prolonged to -14%, much like the April-Might decline in 2025, and is now once more approaching the 200-day transferring common, which has supported the index because the begin of the rally from 40k and is at present slightly below the 160k degree, AHL added.
General buying and selling volumes decreased to 620 million shares in comparison with Tuesday’s tally of 688 million. The worth of traded shares stood at Rs29 billion.
International traders bought shares value Rs368 million, the Nationwide Clearing Firm reported.
