Selling pressure intensified at the Pakistan Stock Exchange on Wednesday, wiping out early gains and pushing the market sharply lower by the close as investor sentiment remained cautious.
The benchmark KSE-100 Index swung between an intraday high of 169,686.03 and a low of 165,391.47, reflecting heightened volatility throughout the session. Persistent selling dragged the index down by 2,588.35 points, or 1.54%, to settle at 165,823.88.
The decline was broad-based, with all major sectors contributing to the downturn. Heavyweight commercial banks led the losses, while oil and gas exploration companies, oil marketing companies (OMCs), power generation firms, and refinery stocks also remained under pressure, collectively weighing on the index.
Despite an initially positive start, the market failed to sustain momentum as profit-taking accelerated and sellers dominated trading for most of the day. The sharp reversal underscores fragile investor confidence, with participants opting to reduce exposure amid ongoing uncertainty in key sectors.
According to KTrade Securities equity trader Ahmed Sheraz, KSE-100 closed at 168,823, down 2,588 pts (-1.54% DoD), with persistent selling pressure throughout and without meaningful recovery, reflecting weak sentiment and lack of fresh buying.
Despite this, volumes stayed decent at 448 million, signalling active participation but clearly skewed towards the sell side. Pressure was led by banks and exploration & production as United Bank, National Bank, Oil and Gas Development Company, Engro Holdings, Pakistan Petroleum, Habib Bank, Pakistan State Oil and MCB bank were among key laggards who dragged the index lower.
Additionally, result season remained in play, with earnings largely inline to slightly down without major surprises so far, keeping the sentiment muted. Macro continues to dominate, with Brent near $115 (highest since 2022) stoking inflation concerns alongside the recent 100 basis points interest hiked by the State Bank of Pakistan.
Besides, elevated oil prices are adding pressure on the external account and overall sentiment. With US–Iran talks stalled and no near-term relief on oil, outlook stays cautious, with range-bound trading likely to persist under a negative bias, Sheraz added.Latest News, Breaking News & Top News Stories | The Express TribuneOur CorrespondentRead More