In a volatile trading session on Thursday, the Pakistan Stock Exchange (PSX) experienced a dramatic turn of events. The KSE-100 Index, the benchmark for market performance, surged to an all-time high during the early hours of trading, only to see its gains evaporate by market close, ending the day in the red.
The KSE-100 Index opened with strong momentum and soared to an intraday peak of 120,668.42 points by 10:19 AM, registering a notable gain of 736.97 points. The market rally at the start of the day reflected heightened investor optimism and strong sentiment across select sectors, pushing the index to a new historical level.
However, that bullish energy proved short-lived. The index could not sustain the momentum and reversed its direction as the day progressed. By the closing bell, it had dropped 778.41 points to settle at 119,153.04, marking a decline of 0.65% from the previous session. The day’s trading activity showcased the volatility that investors are increasingly facing, with the index moving within a wide range of 1,637.14 points. It hit an intraday high of 120,699.17 and a low of 119,062.03.
A total of 223.28 million shares were traded on the KSE-100 Index. Out of the 100 listed companies on the benchmark index, 31 closed in the green, 67 ended in the red, one remained unchanged, and one was not traded.
The session’s top gainers were POML (+10.00%), TPLRF1 (+6.23%), SYS (+5.39%), BNWM (+4.80%), and GADT (+4.73%). These companies contributed positively to the market sentiment during the early hours of trade. In contrast, major losers included KTML (-5.43%), AGL (-4.30%), CNERGY (-4.03%), NATF (-3.49%), and LUCK (-3.10%), which dragged down the broader index as the trading session progressed.
From a point-contribution perspective, companies such as SYS (+181.95 points), TPLRF1 (+31.51 points), AIRLINK (+17.05 points), RMPL (+14.69 points), and HINOON (+12.27 points) propped up the index early in the session. However, this upward momentum was later overwhelmed by negative contributions from large-cap stocks including ENGROH (-176.85 points), LUCK (-152.84 points), PPL (-110.95 points), PSO (-50.72 points), and HUBC (-45.54 points).
Sector-wise analysis revealed that the Cement sector led the drag on the index with a loss of 231.12 points. It was followed by Investment Banks/Securities (-183.44 points), Oil & Gas Exploration (-159.29 points), Commercial Banks (-136.44 points), and Oil & Gas Marketing Companies (-82.51 points). On the flip side, the Technology & Communication sector added 179.80 points, supported by positive contributions from Real Estate Investment Trusts (+34.30 points), Pharmaceuticals (+25.31 points), Glass & Ceramics (+9.03 points), and Leather & Tanneries (+6.51 points).
The broader market also faced pressure. The All-Share Index closed at 74,147.80, reflecting a net loss of 362.70 points or 0.49%. Trading volume across the board declined, with 589.77 million shares traded compared to 667.69 million in the previous session. Interestingly, despite the lower volume, the traded value rose to Rs30.81 billion, up by Rs4.19 billion.
A total of 342,165 trades were executed across 465 companies. Of these, 194 closed in the positive, 229 recorded losses, and 42 remained unchanged.
The trading session demonstrated the unpredictable nature of the current market environment. While early enthusiasm hinted at a possible extended rally, late-session selling and profit-taking led to a significant reversal. Market participants are likely to remain cautious in the coming days, watching for cues from both local economic indicators and global financial trends.