The Pakistan Stock Exchange’s Shariah-compliant KMI-30 index ended Wednesday’s session in negative territory, shedding 870 points to close at 256,029.67.
The index opened at 257,578 points, touched a high of 258,371, but later slipped to an intraday low of 254,931 as selling pressure intensified in key heavyweight stocks. The session concluded with a 0.34 percent decline.
Trading activity remained steady, with index constituent volume recorded at 178.30 million shares, indicating continued investor engagement despite the market’s correction.
Oil and gas exploration companies provided strong support, with OGDC contributing 547 points and PPL adding 335 points. Meezan Bank, PAEL and Attock Refinery also supported the index.
However, heavy losses in cement, power and fertilizer stocks offset the gains. Lucky Cement emerged as the top dragger, pulling the index down by 434 points, followed by Hub Power, FFC, Systems Limited, and SNGPL.
Market analysts said the decline reflects sector-specific profit-taking rather than a broad market weakness. They added that Shariah-compliant stocks still maintain a strong financial year-to-date return of 38.48 percent.