The KSE-100 index dropped by 39.36 points, closing at 118,536.53 — a modest fall of 0.03 percent from the previous 118,575.89, but enough to spark whispers of shifting sentiment in the market.

What raised even more eyebrows was the dramatic drop in trading volume. Only 609,063,142 shares exchanged hands, a sharp dip from the previous day’s 684,294,646 — showing a clear pullback in market activity. The total value of traded shares also fell notably, standing at Rs41,913,000,000 compared to Rs52,586,000,000 the day before.

Out of 451 companies involved in trading, 207 managed to end the day in the green, 191 closed with losses, and 53 remained unchanged — hinting at a divided market mood.

Among the day’s hottest stocks were At-Tahur Limited, trading 38,761,905 shares at Rs44.84 per share; Fauji Cement, with 36,170,971 shares at Rs47.86; and Sui South Gas, clocking 32,384,781 shares at Rs36.07.

In a surprising jump, PIA Holding Company Limited led the charge with a massive increase of Rs935.96 per share, closing at Rs10,295.59. Khyber Textile Mills Limited followed with a sharp rise of Rs88.92, ending at Rs978.13.

But not everyone was celebrating. Unilever Pakistan Foods Limited took the hardest hit, with its share price plunging by Rs236.35 to close at Rs22,676.15. The second-biggest loser, Hoechst Pakistan Limited, saw a decline of Rs137.93 per share, closing at Rs3,260.00.

Meanwhile, in the bullion market, gold prices took a notable dip — adding a twist for those tracking safe-haven assets. According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs2,300, now resting at Rs341,900, down from Rs344,200. The 10-gram price followed suit, falling by Rs1,972 to Rs293,124 from the earlier Rs295,096.

This fall isn’t just local. Globally, gold lost $23 per ounce, now trading at $3,235 per ounce — signaling a broader correction and creating uncertainty among bullion investors.