The Pakistan Stock Exchange (PSX) witnessed a day of sharp fluctuations on Wednesday as the benchmark KSE-100 Index closed at 118,536.52 points, reflecting a slight decline of 39.36 points or 0.03 percent. Although the overall change was marginal, the session was marked by intense volatility and wide-ranging investor sentiment.
The KSE-100 index moved within a trading range of 1,311.90 points during the day. It touched an intraday high of 119,460.54 points, representing a gain of 884.66 points, and dropped to a low of 118,148.64 points, down by 427.24 points. The intraday swings underscored market uncertainty as investors responded to mixed signals from both local and global economic fronts.
The total volume traded on the KSE-100 Index stood at 273.52 million shares. Meanwhile, market-wide activity saw 609.06 million shares changing hands across all listed companies, down from 684.29 million in the previous session. Traded value also decreased significantly, falling to Rs41.91 billion, which was Rs10.67 billion lower than the previous day’s turnover.
Out of the 100 companies included in the KSE-100 Index, 42 closed higher, 55 ended lower, while three remained unchanged. The trading pattern pointed to a split market with limited momentum in either direction.
Among the top decliners were IBFL, which dropped by 7.61 percent, followed by POML losing 3.64 percent, NPL falling by 3.45 percent, PABC down by 3.01 percent, and OGDC declining by 2.74 percent. These losses were particularly felt in the oil, energy, and banking sectors.
On the other hand, companies that saw the most notable gains included AGL with a 10.01 percent increase, FCEPL rising 5.56 percent, LOTCHEM advancing 5.38 percent, GADT climbing 5.18 percent, and UNITY gaining 4.67 percent. These performances helped cushion the index from further decline.
From a contribution standpoint, OGDC dragged the index down by 129.21 points, MCB by 78.21 points, BAHL by 50.98 points, PSO by 50.79 points, and MARI by 44.96 points. In contrast, ENGROH added 194.23 points to the index, FFC contributed 101.92 points, UBL added 66.96 points, MEBL brought in 64.81 points, and PPL supported with 42.05 points.
Sector-wise, the most significant negative contribution came from Oil and Gas Exploration Companies, which pulled the index down by 170.57 points. Other major draggers included Commercial Banks with a drop of 90.08 points, Oil and Gas Marketing Companies at 66.90 points, Cement at 56.78 points, and Power Generation and Distribution with 41.47 points lost. On the positive side, the index was supported by Investment Banks, Investment Companies, and Securities Companies with a contribution of 192.46 points, followed by Fertilizer with 122.20 points, Technology and Communication with 40.48 points, Refinery at 27.52 points, and Food and Personal Care Products with 26.90 points.
The broader All-Share Index closed the session at 73,338.56 points, posting a slight gain of 30.83 points or 0.04 percent. The total number of trades recorded stood at 346,539 across 451 listed companies. Among these, 207 companies closed in the green, 191 in the red, and 53 ended unchanged.
The top stocks by volume included PREMA at 44.84 with a 10.01 percent gain and 38.76 million shares traded, FCCL at 47.86 with 36.17 million shares, SSGC at 36.07 with 32.38 million shares, WTL at 1.25 with 22.63 million shares, and PRL at 31.14 with 20.53 million shares.
Despite Wednesday’s volatility, the KSE-100 Index has shown strong performance over the broader fiscal year. The index has gained 40,092 points or 51.11 percent during the current fiscal year and has increased by 3,410 points or 2.96 percent so far in the 2024 calendar year. This underlines the market’s resilience, though short-term fluctuations remain an ongoing challenge for investors.