PSX slips again as KSE-100 index falls - what’s behind the unexpected drop?
File photo
File photo
KARACHI (Web Desk): The PSX saw an unexpected slip as the KSE-100 Index fell again, leaving investors curious about what pushed the market down.

The Pakistan Stock Exchange closed lower as the KSE-100 Index dropped by 291.59 points, settling at 161,692.49 compared to the earlier 161,984.09. The decline signaled a mild but noticeable bearish mood across the market.

Share activity remained strong with 590.53 million shares traded in the ready market, valued at Rs22,15,00,00,000, though this was lower than the previous session’s value of Rs23,66,00,00,000 despite a smaller volume of 490.35 million shares. Market capitalisation also slipped to Rs18,417,00,00,00,000 from Rs18,469,00,00,00,000, showing a broad cooling in sentiment.

Among 477 active companies, 155 saw gains, 284 declined, and 38 stayed unchanged as selling pressure outweighed buying interest.

WorldCall Telecom led the ready-market turnover with 59.19 million shares, followed by Bank Makramah at 45.98 million and PTCL at 38.77 million. These counters drew the most trader attention during the session.

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Shield Corporation Limited emerged as one of the day’s strongest performers, climbing by Rs54.31 to finish at Rs597.36. The Thal Industries Corporation Limited also gained sharply, adding Rs46.39 to close at Rs761.98.

On the losing side, Unilever Pakistan Foods Limited fell by Rs99.00 to end at Rs29,051.00, while ZIL Limited dropped by Rs53.21 to close at Rs531.63. Both faced heavy pressure as investors opted for profit-taking.

In the futures market, total turnover reached 387.49 million shares with a value of Rs17,55,00,00,000, lower than the previous day’s Rs33,27,00,00,000 on 389.38 million shares. Out of 318 traded companies, 93 advanced, 219 declined and 6 remained unchanged, reflecting similar weakness to the ready market.

The most traded futures contracts were WTL-Dec with 29.89 million shares, WTL-Nov with 25.74 million, and PIAHCLA-Dec with 17.70 million shares.

Experts say the market dipped mainly due to cautious investors and profit-taking after recent rises. They believe global economic worries also added pressure. Analysts expect mixed trading ahead unless strong triggers appear.