The Pakistan Stock Exchange (PSX) witnessed a sharp decline on Wednesday as the KSE‑100 Index tumbled by 1,505.11 points, or 1.23%, to close at 120,465.93. This steep fall highlights prevailing investor concerns and continued bearish sentiment across the market.
The index traded within a wide intraday range of 1,487.50 points, hitting a high of 121,905.49 and a low of 120,417.99. Despite these swings, the total volume of the KSE‑100 stood at 122.2 million shares, reflecting relatively subdued trading activity.
Among the 100 listed companies on the benchmark index, 82 ended in the red, 16 recorded gains, and two remained unchanged. The day’s worst performers included Pakgen Power (PKGP), which dropped by 10%, Indus Motor Company (INDU) declining 6.04%, Punjab Oil (POML) down 4.81%, Kohinoor Textile (KTML) off by 4.71%, and International Steels (ISL), which lost 4.22%.
Heavyweight companies exerted significant downward pressure on the index. Engro Corporation wiped off 118.24 index points, while Pakgen Power contributed a loss of 118.16 points. Other major drags were Pakistan Petroleum (PPL) with 89.04 points, Mari Petroleum (MARI) with 85.68 points, and United Bank Limited (UBL), which lost 76.50 points.
Despite the gloomy performance, a few stocks managed to post gains. Bank of New York Mellon (BNWM) surged by 10%, Agritech Limited (AGL) climbed 8.71%, Pakistan Aluminium Beverage Cans (PABC) advanced 2.33%, Engro Fertilizers (EFERT) increased 1.03%, and Meezan Bank (MEBL) added 0.69%. These stocks collectively added just under 80 points to the index, providing slight relief.
Sector-wise performance reflected broader market weakness. The Commercial Banks sector contributed the most to the index’s fall with a loss of 312.78 points. Oil & Gas Exploration Companies followed with 245.94 points lost. Power Generation & Distribution fell by 191 points, Cement dropped 124.7 points, and the Technology & Communication sector was down 123.9 points.
On the other hand, minimal support came from a few sectors. Insurance added 1.58 points to the index, Real Estate Investment Trusts (REITs) gained 1.49 points, Woollen added 0.92 points, Tobacco rose by 0.78 points, and Modarabas added 0.35 points.
The broader All-Share Index also saw a significant drop, closing at 75,339.81 with a net loss of 877.42 points or 1.15%. Market participation thinned as total volume declined to 707.29 million shares from the previous session’s 1.15 billion. Traded value dropped as well, settling at Rs21.27 billion—down Rs6.71 billion.
Among the most active stocks by volume were WorldCall Telecom (WTL) with over 110 million shares traded, Pakistan Mortgage Investment (PMI), and Pakistan Aluminium Salt (PASLNC). Other high-volume movers included SSGC, TPL Properties, FCSC, PIAHCLA, SLGL, FDPL, and ICIBL.
This persistent decline underscores investor unease over economic and policy-related uncertainties. With macroeconomic indicators in focus and budgetary concerns unresolved, the market awaits clarity that could potentially steer it back to stability.