PSX slips as investors book profits, KSE-100 down by over 1,300 points

The Pakistan Stock Exchange (PSX) opened Thursday’s session on a positive note, with the benchmark KSE-100 index surging over a thousand points in the initial minutes of trading. At 9:36 AM, the index stood at 160,590.77, gaining 1,012.58 points on a trading volume of 5.8 million shares.

Early optimism was driven by buying in select large-cap stocks, reflecting cautious investor confidence ahead of the weekend.

However, the market sentiment shifted quickly as profit-taking emerged. By 10:01 AM, the index had slipped into the red, recording a loss of 146 points at 159,431.39, with traded volume climbing to 31 million shares.

Selling pressure intensified over the next hour, pushing the KSE-100 down by 1,325.57 points to a low of 158,252.62 around 10:47 AM, accompanied by a surge in volume to over 70 million shares.

As of 12:59 PM, the PSX showed partial recovery, with the KSE-100 settling at 159,198.73, down 379.46 points or 0.24 percent from the previous close of 159,578.19. The day’s trading range has been volatile, spanning between 158,252.62 and 160,590.77.

Year-to-date, the KSE-100 has recorded a strong gain of 38.28 percent, while the one-year return stands at 73 percent, highlighting resilience in the local equity market despite intermittent volatility.

Market performers

On the sectoral front, several stocks saw notable activity. Among the top advancers, LSEVL surged 14.77 percent to 7.77 per share, while AMTEX gained 11.14 percent to 4.89. Other significant performers included FNEL, FECTC, and KOIL, each showing double-digit percentage gains, reflecting focused buying in mid-cap and smaller-cap stocks.

Meanwhile, the top decliners were led by ESBL, down 9.91 percent at 12.00, followed by SHCM, TSML, and HAFL, which all recorded losses above seven percent. The divergent movement between top gainers and losers underscores the selective nature of trading, with investors favouring specific sectors and stocks while exiting others amid caution.

Trading volumes were concentrated in key scripts, with BML topping the list at over 62 million shares, followed by PIBTL and PIAHCLA, both seeing heavy activity above 40 million shares. The day’s intraday pattern suggests that while market sentiment started with optimism, early gains were tempered by profit-taking, reflecting ongoing caution among traders.

Previous close

The previous session ended with the KSE-100 closing at 159,578.19, down 1,703.57 points or 1.06 percent. Wednesday’s session had seen a high of 162,052.45 and a low of 159,216.86, while the total traded volume reached 333.05 million shares.

Out of 100 index companies, 72 closed lower, 25 ended higher, and three remained unchanged, indicating broad-based selling pressure. Top losers included IBFL, PAKT, and PGLC, while top gainers were DHPL, PSEL, and PKGP, showing that despite overall market weakness, certain stocks continued to attract investor interest.