Despite decline, trading activity remained strong, with volumes reaching 860m shares, traded value standing at Rs34.8b
The Pakistan Stock Exchange lost further ground as the benchmark KSE-100 index fell by more than 1,700 points, mainly due to the absence of major triggers to encourage investors to build new positions. A day earlier, the market had shed 1,521 points, driven by profit-taking at higher valuations.
Although trading opened positively and stayed in the green for a short time, the market began to decline before midday. The index hit an intra-day low of 159,217 points later in the session and closed slightly above that level. At the close, the KSE-100 index recorded a drop of 1,703.58 points, or 1.06%, to settle at 159,578.19.
Topline Securities, in its market review, said, “The KSE-100 index ended the session on a negative note on Wednesday. Throughout the day, the benchmark oscillated between an intra-day high of 162,052 and a low of 159,217. The bearish sentiment was primarily driven by the absence of fresh market triggers following the conclusion of the corporate results season.”
Major index heavyweights — including Fauji Fertiliser Company, Engro, Lucky Cement, Meezan Bank, and Systems Limited — were the main laggards, collectively shaving 902 points off the benchmark.
Despite the decline, trading activity remained strong, with volumes reaching 860 million shares and traded value standing at Rs34.8 billion, the brokerage added.
