Persistent promoting in banking, power, and cement shares stored KSE-100 index deep in losses
KARACHI:
Low market optimism, coupled with rollover headwinds, stored buyers on the defensive, because the Pakistan Inventory Change (PSX) logged its third consecutive decline this week on Wednesday amid heavy promoting strain.
Buying and selling started on a tentative word, with the index briefly climbing to an intra-day excessive of 168,191.65. Nonetheless, the early restoration proved fragile. Because the session progressed, persistent promoting resurfaced, preserving the market confined inside a slim vary by way of late morning.
Stress intensified round noon as buyers trimmed positions amid rollover-related changes. The index subsequently slipped to an intra-day low of 164,229.36, reflecting broad-based weak point throughout key sectors similar to banks, cement, oil & gasoline, and industrial holdings.
The benchmark KSE-100 index endured a risky session, finally plunging 1,632.25 factors, or 0.98%, to shut at 164,626.29.
Market members cited subdued threat urge for food and contract rollover dynamics as major drivers behind the day’s downward trajectory, with sentiment remaining cautious heading into the subsequent session.
Topline Securities wrote that the KSE-100 index closed the session at 164,626 factors, posting a decline of 1,632 factors amid sustained market volatility. Through the day, the benchmark traded inside a spread of 168,191 to 164,229 factors, 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 dragging the index down by 928 factors, Topline added.
Shares of 483 corporations had been traded. Of those, 143 shares closed larger, 278 fell, and 62 remained unchanged. Ok-Electrical continued to prime the chart with buying and selling in 99.8 million shares, rising Rs0.14 to shut at Rs7.71.
