Pakistani Stock Market Closes Lower Amid Volatile Session and Resistance Test

In KSE, more than a billion rupees from the investors’ protection fund have been used to compensate victims of defaulting brokers. PHOTO: FILE

KARACHI:

The Pakistan Stock Exchange (PSX) closed lower on Thursday, with the benchmark KSE-100 index slipping 255 points amid a volatile session that began with an early surge and then reversed sharply.

After initially rising more than 1,400 points and hitting an intra‑day high of 178,291, the index failed to hold above the key 178,000‑180,000 resistance zone and retreated to a low of 176,157. Selling pressure in banking and power heavyweights outweighed selective buying in the oil and gas exploration sector, while overall market breadth remained weak. Regular market turnover was 665 million shares worth Rs30.8 billion.

At the close, the KSE‑100 index posted a modest loss of 254.59 points, or 0.14%, settling at 176,591.77.

Arif Habib Limited noted that, despite a largely flat session, the KSE‑100 failed to breach the critical 178,000‑180,000 resistance zone and closed at 176,591.8, down 254.6 points. Market breadth stayed negative, with only 37 advances against 61 declines.

Gainers such as OGDC (+1.63%), Engro (+1.28%) and Sazgar Engineering (+7.29%) drove the limited upside, while drags including UBL (-1.26%), Hub Power (-1.21%) and Bank AL Habib (-1.36%) weighed heavily on the index.

Bloomberg raised its outlook for Pakistan’s potential growth to 3.9% in fiscal 2030 from 3.4% in the year ended June 2026, projecting a peak of 4.6% by fiscal 2038. Meanwhile, Nishat Mills announced its exit from the joint‑venture investment in Nishat Sutas Dairy Limited, citing adverse market and regulatory conditions that have hurt the dairy sector’s financial health.

Regular market turnover reached 665.2 million shares worth Rs30.8 billion. “Technical pressure remains skewed to the downside as long as the benchmark stays capped below the 178k‑180k resistance band,” AHL said.

Topline Securities’ market review noted that the KSE‑100 closed down 255 points (-0.14%) after a highly volatile session. The index surged more than 1,400 points initially but retreated to an intra‑day low of 176,157 before settling lower.

Selling pressure concentrated in key heavyweight stocks, while selective buying in the oil & gas exploration sector offered limited support. The sharp intra‑day reversal reflected continued investor caution after recent market corrections.

Sentiment was subdued amid renewed geopolitical uncertainty and elevated international oil prices, prompting investors to reduce exposure across major sectors. On the downside, UBL, Hubco, Bank AL Habib, HBL and Fatima Fertiliser together shaved roughly 458 points from the benchmark.

Conversely, OGDC, Engro Holdings and Sazgar Engineering added about 321 points. Market participation was modest, with total traded volume of 665 million shares and a traded value of Rs30.8 billion.

The overall turnover of 665.19 million shares was lower than the previous session’s 787.89 million.

In the ready market, 492 companies were traded; 144 stocks closed higher, 312 fell and 36 unchanged. Cnergyico Pk was the volume leader, trading 221 million shares and losing Rs0.82 to close at Rs13.19, followed by First National Equities with 25 million shares unchanged at Rs1.17 and Globe Residency with 18.8 million shares gaining Rs0.09 to close at Rs22.99. Foreign investors purchased shares worth Rs582.7 million, according to the National Clearing Company.

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