The Pakistan Stock Exchange (PSX) experienced continued selling pressure on Thursday, resulting in a notable decline in the benchmark KSE-100 Index. Despite opening strongly, the index could not maintain its momentum and closed significantly lower.
Market Performance at PSX
The KSE-100 Index began the day on a positive note, reaching an intraday high of 183,717.53 points during early trading. However, persistent selling throughout the session pushed the index down steadily. A brief recovery attempt in the early afternoon was unable to hold, and the index eventually dropped to an intraday low of 180,783.62 points.
By the close, the index settled at 181,456.33 points, marking a decrease of 1,113.48 points or 0.61%.
Recent Developments and Market Context
On Wednesday, the Government of Pakistan and SC Financial Technologies LLC, affiliated with World Liberty Financial USA (WLF), signed a memorandum of understanding aimed at promoting collaboration on next-generation digital payment systems and cross-border financial innovations. WLF is noted as the primary crypto business linked to the family of US President Donald Trump.
Earlier on Wednesday, the KSE-100 Index closed at 182,569.82 points, down 1,381.69 points or 0.75%, as geopolitical uncertainties and cautious investor sentiment continued to weigh on the market.
International Market Movements
Globally, oil prices retreated from multi-month highs on Thursday, while gold prices eased back from record peaks following remarks by US President Donald Trump that helped reduce market concerns about potential US military action against Iran.
Technology stocks faced selling pressure extending into Asian markets, with investors shifting away from high-performing chip and artificial intelligence-related shares in search of value elsewhere.
Regional Market Highlights
- Japan’s Nikkei index fell 0.9% after reaching an all-time high in the previous session, while the broader Topix index advanced 0.4% to a new record.
- Taiwan’s TAIEX dropped 0.5%, and Hong Kong’s Hang Seng declined 0.4%, influenced by weakness in tech shares.
- Mainland Chinese blue chips remained flat, whereas South Korea’s KOSPI rose 0.3% to a fresh record high.
In the US, S&P 500 E-mini futures declined 0.1% following a 0.5% drop in the cash index overnight, with the Nasdaq Composite falling 1%.
Currency and Trading Activity at PSX
The Pakistani rupee showed a slight gain against the US dollar in the inter-bank market, closing at 279.96, up by Re0.01.
Trading volume on the all-share index decreased to 820.04 million shares from 1,034.1 million in the previous session. The total value of shares traded also declined to Rs45.98 billion from Rs65.96 billion.
Hascol Petrol led volume with 62.65 million shares traded, followed by Media Times Ltd with 43.66 million shares and Nishat ChunPower with 36.69 million shares.
Overall, shares of 482 companies were traded during the session, with 150 advancing, 289 declining, and 43 remaining unchanged.
