The Pakistan Stock Exchange (PSX) continued its downward trajectory on Friday, with the benchmark 100-Index falling by 365.83 points. It closed at 81,292.13 points, down from 81,657.97 points recorded at the end of the previous trading session. This decline marks a continuation of the bearish sentiment that has dominated the market in recent sessions.
According to a note from Topline Securities, the KSE-100 Index faced persistent selling pressure, largely driven by foreign corporates offloading shares over the last few trading sessions. This trend has kept investor sentiment subdued, preventing the market from recovering from recent losses.
Market Activity Overview
Trading volumes at the PSX showed a noticeable decline. A total of 339,323,128 shares were traded during the session, compared to 423,942,319 shares on the previous trading day. The total value of shares traded stood at Rs. 12.893 billion, down from Rs. 17.671 billion on the last trading day. The lower trading volumes reflect a cautious approach among investors amid the ongoing market pressures.
In terms of market activity, 439 companies transacted their shares on Friday. Of these, 129 recorded gains, 234 posted losses, while the share prices of 76 companies remained unchanged, reflecting a broad-based sell-off.
Top Trading Companies
Among the most actively traded stocks, K-Electric Limited topped the list, with a trading volume of 50,666,137 shares at Rs. 3.67 per share. It was followed by WorldCall Telecom, which saw 32,405,823 shares change hands at Rs. 1.20 per share, and Hub Power Company XD, with 16,264,755 shares traded at a price of Rs. 123.77 per share.
Biggest Gainers and Losers
On the gainers’ side, Hallmark Company Limited recorded the highest increase, with its share price rising by Rs. 102.70, closing at Rs. 1,129.99. Rafhan Maize Products Company Limited followed, with its share price climbing by Rs. 92.46 to close at Rs. 7,346.75.
Conversely, Sapphire Textile Mills Limited experienced the largest decline in value, with its share price dropping by Rs. 40.23 to close at Rs. 1,217.39. Premium Textile Mills Limited also faced significant losses, with a decrease of Rs. 29.00 per share, bringing its closing price to Rs. 260.99.
Market Sentiment and Outlook
The persistent selling pressure at the PSX highlights the cautious stance of investors, particularly in light of the foreign corporate sell-off. The reduced trading volumes and overall market activity reflect the uncertainty that has gripped the market, as investors remain wary of global economic conditions and domestic economic challenges.
While some companies have managed to post gains despite the broader downtrend, the overall sentiment remains fragile. Analysts believe that stability in foreign inflows and positive developments on the macroeconomic front will be crucial to reversing the current trend and restoring investor confidence in the days to come.
As the market continues to grapple with these challenges, all eyes will be on any upcoming policy measures or economic developments that could help support a market rebound. Until then, investors are likely to remain cautious, keeping trading volumes and market activity subdued.