The Pakistan Stock Exchange (PSX) on Wednesday extended its losing streak for a third straight session as the benchmark KSE-100 index saw sharp swings throughout the day.
Trading started on a positive note, pushing the index to an intra-day high of 166,947.19. However, selling pressure increased later, dragging the index to a low of 165,109.84. At the close, the KSE-100 index lost 907 points, or 0.55 percent, to settle at 165,266.75.
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KTrade Securities stock trader Ahmed Sheraz said the decline was due to investors’ concerns after the State Bank of Pakistan indicated that a policy rate cut was unlikely at the next Monetary Policy Committee (MPC) meeting. “This unease is further compounded by increased scrutiny by the International Monetary Fund as part of its ongoing review,” he added.
Heavy stocks such as United Bank, Fauji Fertiliser, Lucky Cement and Mari Energies weighed on the index, while technology stocks Systems Limited (SYS) and Bank Alfalah provided some respite.
Market activity remained strong. “Market direction is expected to remain closely linked to geopolitical developments and the results of the ongoing IMF review – both will play a critical role in shaping investor sentiment,” Sheraz noted.
Arif Habib Limited (AHL) observed that the market’s failure to regain 167,200 points on Wednesday places the next area of interest between 163,800 and 164,200 points.
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A total of 33 stocks rose, 67 fell, with Systems (+6.11%), Bank Alfalah (+4.04%) and MCB Bank (+1.27%) contributing the most to the gains. On the other hand, United Bank (-3.3%), Fauji Fertilizer (-1.48%) and Lucky Cement (-2.67%) were the biggest drags.
Meanwhile, the Pakistan Bureau of Statistics (PBS) reported that Pakistan’s GDP grew by 3.04 percent in FY25, while the government forecast growth of 4.2 percent in FY26.
Trading volumes increased slightly to 1.27 billion shares from 1.266 billion on Tuesday, for a total value of Rs61.1 billion. Shares of 484 companies changed hands, with 148 closing higher, 297 lower and 39 remaining unchanged.
PTCL topped the volume chart, trading 114.4 million shares, gaining Rs 2.23 to close at Rs 33.37.
