The Pakistan Stock Exchange (PSX) closed Thursday’s session on a somber note as the benchmark KSE-100 Index plunged by 2,206.33 points, or 1.88%, finishing the day at 115,019.81. The sell-off was broad-based, reflecting investor apprehension across multiple sectors and key index-heavy stocks.
The KSE-100 Index witnessed considerable volatility throughout the session, trading within a wide range of 1,906.93 points. The intraday high was recorded at 116,568.13, still down 658.01 points from the previous close, while the session’s low plunged to 114,661.20, marking a sharp 2,564.94-point drop at one stage. Total volume on the benchmark index stood at 197.69 million shares, underscoring heightened market activity amid uncertainty.
Of the 100 companies comprising the KSE-100 Index, a mere 8 closed in the green, 91 posted losses, none remained unchanged, and one went untraded — a clear indication of pervasive bearish sentiment among market participants.
On the losing end, significant downward pressure came from names such as AGL (-6.39%), FCEPL (-6.13%), NML (-5.87%), PIBTL (-5.53%), and AIRLINK (-5.42%), reflecting both sector-specific weaknesses and broader economic concerns.
Conversely, a few counters managed to defy the trend. Notable gainers included PKGP (+9.73%), UPFL (+1.96%), PAKT (+1.69%), MUREB (+1.48%), and LUCK (+0.76%), with some attracting investor interest amid defensive buying or positive company-specific developments.
From an index contribution perspective, heavyweights such as ENGROH (-138.47pts), HUBC (-133.08pts), BAHL (-130.33pts), MARI (-121.16pts), and FFC (-116.80pts) were among the primary drags on the market. These companies cumulatively wiped out hundreds of points from the KSE-100 Index.
On the other hand, a handful of contributors like PKGP (+49.23pts), PAKT (+8.64pts), UPFL (+4.64pts), LCI (+4.42pts), and MUREB (+4.22pts) provided limited support.
Sector-wise performance further highlighted the market’s weakness, with Commercial Banks leading the losses, subtracting 567.17 points from the index. They were followed by Oil & Gas Exploration Companies (-293.57pts), Fertilizer (-226.32pts), Cement (-206.62pts), and Investment Banks / Securities Companies (-159.76pts) — indicating a widespread loss of confidence in Pakistan’s economic outlook or near-term corporate profitability.
Sectors that provided negligible support included Tobacco (+8.64pts), Synthetic & Rayon (+0.01pts), and a few minor segments, although their impact was too small to change the trajectory of the broader market.
In the broader market, the All-Share Index also posted a sharp decline, closing at 72,123.91, down by 1,241.94 points or 1.69%. Total market volume came in at 506.70 million shares, down from 605.18 million in the previous session, while the traded value stood at Rs24.49 billion, reflecting a Rs3.27 billion decrease in daily turnover.
A total of 303,423 trades were executed across 453 companies, with 83 advancing, 336 declining, and 34 remaining unchanged.
Among the most actively traded stocks by volume were POWER (37.31 million shares, +1.76%), WTL (31.22 million, -1.50%), SSGC (23.40 million, -0.15%), CNERGY (22.19 million, -2.80%), and ASL (20.13 million, +5.08%), showing strong interest in both gainers and decliners from retail and institutional participants.
Despite Thursday’s decline, it’s worth noting that the KSE-100 Index has still gained 36,575 points or 46.62% during the current fiscal year. However, for the calendar year to date, the index is nearly flat, down by a marginal 107 points or 0.09%, suggesting that while long-term gains have been substantial, short-term sentiment remains fragile and reactive to macroeconomic shifts and corporate earnings.
As investor nerves continue to be tested, the coming sessions may see increased volatility unless market fundamentals or macroeconomic signals offer clearer direction.