Stock market turns bearish as KSE-100 index drops sharply
PSX closed in red despite heavy trading volumes. File photo
PSX closed in red despite heavy trading volumes. File photo
KARACHI (Web Desk): The Pakistan Stock Exchange (PSX) has closed bearish as the KSE-100 Index dropped by 556.16 points, reflecting investor caution and selling pressure across key sectors.

The benchmark KSE-100 Index of the Pakistan Stock Exchange settled at 171,404.49 points after losing 556.16 points, showing a decline of 0.32 percent compared to the previous session.

Trading activity remained active but weaker than a day earlier. The ready market recorded a volume of 797.528 million shares, with a total traded value of Rs42.219 billion. In the previous session, volume stood at 950.146 million shares worth Rs54.075 billion.

Market capitalization declined to Rs19.457 trillion from Rs19.498 trillion, indicating an overall fall in market value.

Out of 485 companies traded, 179 stocks advanced, 260 have declined, while 46 have remained unchanged, highlighting broad based selling pressure.

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K-Electric Limited led the volume chart with 116.033 million shares. It has been followed by Bank Makramah with 24.747 million shares and Crescent Star Insurance with 23.054 million shares.

Among top gainers, Rafhan Maize Products Company Limited surged by Rs984.02 to close at Rs11,211.27. PIA Holding Company Limited-B has also gained Rs135.50 to settle at Rs23,135.50.

On the losing side, Hoechst Pakistan Limited has dropped by Rs185.15 to close at Rs4,227.66, while Unilever Pakistan Foods Limited has fallen by Rs143.00 to end at Rs28,855.00.

In the futures market, turnover has stood at 166.355 million shares with a traded value of Rs9.492 billion, slightly lower in value compared to the previous session.

Out of 318 futures contracts, 83 have recorded gains, 231 have declined, while four have remained unchanged, showing similar weakness.

KEL-Dec has topped futures volumes with 24.612 million shares, followed by PIAHCLA-Dec and PACE-Dec.

Among futures gainers, LUCK-Jan has risen by Rs16.01 to close at Rs510.00, while LUCK-Dec has increased by Rs15.16 to settle at Rs501.49. On the downside, GHNI-DecB has declined by Rs16.53 to Rs818.47, and SAZEW-DecB has slipped by Rs15.67 to Rs1,635.00.

Selling pressure has dominated the market. Investors have remained cautious ahead of economic signals. High volumes show activity, but confidence looks weak. Short term volatility may continue.