The Pakistan Stock Exchange (PSX) fell on Wednesday, with several big-cap stocks selling off, crossing a handful of stock advances, resulting in the KSE-100 and KMI-30 indices both closing in the red.
The benchmark KSE-100 Index finished the session at 176,042.99 points, down 1,580.90 points, or 0.89%. During the day, the index touched a high of 176,935.03 points and a low of 175,631.74 points. Trading volume was also steady as the totals of the trading companies that were constituents of the indicator came in at 193.07 million shares.
The KSE-100 index is yet 1.14% up from the beginning of the calendar year and is falling 2.36% so far in this fiscal year.
FFC had the largest positive impact on the benchmark index among the better-performing days of the day, with 306.55 points. PTC, INDU, TRG and POL also contributed with some positive performance. But these gains were more than cancelled out by falls in key stocks such as ENGRO, LUCK, UBL, HUBC and PPL.
The KMI-30 Index also ended the session lower, falling 2,757.70 points, or 1.10%, to close at 248,057.23 points. The trading volume of its constituent companies was 87.97 million shares, with an intraday peak of 249,572.68 points and a low of 247,771.06 points.
The KMI-30 stock has fallen 3.60% this fiscal year and 0.19% since the start of the calendar year.
In the KMI-30, FFC was also the biggest positive contributor with an additional 592.57 points. TREET and HCAR also showed positive gains, but they weren’t as significant. On the other hand, ENGRO, LUCK, HUBC, PPL, and MEBL were the main drags on the index, resulting in an overall weaker close.
In general, the trading session was a bittersweet one, with investors taking a cautious stance despite sellers’ pressure in some of the big-cap stocks. Market participants are likely to keep a close watch on upcoming corporate earnings, economic indicators, and policy developments, which could influence market direction in the coming sessions.