PTBP Web Desk
The Pakistan Stock Exchange (PSX) experienced its second consecutive session of decline, with the benchmark KSE-100 Index dropping nearly 1,600 points. This downturn can be attributed to late-session selling pressures which overshadowed any earlier gains. The index started the day on a relatively stable note, reaching an intra-day high of 115,256.16, which was approximately 200 points higher than the previous day’s close. However, the market quickly turned, hitting an intra-day low of 113,359.38 before settling at 113,443.43, marking a decline of 1.39% or 1,598.82 points.
The downturn was particularly pronounced in major sectors such as automobile assemblers, commercial banks, fertilizers, oil and gas exploration, oil marketing companies (OMCs), and power generation. Notable companies like HUBCO, SSGC, SNGP, OGDC, MARI, PPL, ENGRO, MEBL, NBP, and UBL saw their stocks trading in the red, indicating broad-based selling pressures across these sectors.
The bearish mood has been attributed to several factors, including political instability and concerns over the new U.S. administration’s policies, which might not favor emerging markets like Pakistan. Intermarket Securities highlighted this sentiment in their analysis, suggesting that the market could remain rangebound without new positive triggers to boost investor confidence.
Contrasting with the local market’s performance, global stock markets enjoyed a lift from positive developments in the U.S., where new policy announcements by President Donald Trump and robust corporate earnings from companies like Netflix invigorated investor sentiment. Netflix’s shares soared after reporting a record number of subscribers, leading to an increase in service plan prices across several countries. This news helped lift Nasdaq and S&P 500 futures in Asia.
Potential tariff impositions by Trump on the European Union and China introduced a note of caution, affecting market sentiment globally. Despite these international developments, the Pakistani rupee showed resilience, depreciating only slightly by 0.01% against the US dollar, closing at 278.85.
Trading volume on the all-share index saw a dip from the previous day, with 743.63 million shares traded compared to 767.27 million. However, the monetary value of shares traded increased to Rs35.24 billion from Rs31.83 billion, suggesting that while fewer shares were changing hands, the average price of shares was higher. WorldCall Telecom led the volume of shares traded, followed by Cnergyico PK and Fauji Cement. Out of 454 companies traded, only 93 saw an increase, with 307 recording a fall, and 54 remaining unchanged.
