KARACHI: Pakistan stocks ended lower on Thursday as the benchmark KSE-100 index shed 195 points, closing at 43,481 compared to the previous day’s closing of 43,676 points.
Throughout the trading session, Pakistan stocks remained range-bound, with investors largely engaging in profit-taking, resulting in a subdued performance.
Analysts at Arif Habib Limited noted that the KSE-100 index initially opened in positive territory, but the upward momentum was short-lived as market participants began to book profits. This trend dragged the index down by as much as 286 points at one point during the day. The refinery and cement sectors were among the most actively traded, drawing attention from investors.
Despite the overall dip in Pakistan stocks, certain sectors stood out for their significant contribution to the day’s performance. Key contributors to the decline included the Technology sector, which lost 59.2 points, followed by Fertilizer (-33.3 points), Exploration & Production (E&P) (-27.0 points), Power (-21.8 points), and Engineering (-18.8 points). The technology sector, in particular, weighed heavily on the index, reflecting investor caution amid volatile global trends in tech stocks.
Trading volumes saw a modest increase, rising by 2.2% from 607.9 million shares on the previous day to 621.2 million shares. However, despite the increase in activity, the average traded value declined by 5.7%, reaching USD 48.8 million compared to USD 51.8 million in the prior session. This decline in value highlights the cautious sentiment prevailing in the market, as investors refrained from making large bets amid ongoing uncertainty.
Stocks that contributed significantly to the day’s trading volumes included WorldCall Telecom (WTL), Cnergyico PK Limited (CNERGY), K-Electric Limited (KEL), Pakistan Refinery Limited (PRL), and Pakistan International Airlines (PIAA). These stocks remained in focus, with high trading activity helping to sustain overall market volumes, even as the index struggled to maintain upward momentum.
While some sectors managed to capture attention, the broader market sentiment remained cautious, with profit-taking overshadowing any significant positive movement. As investors continue to react to global economic trends and local economic uncertainties, market analysts suggest that the range-bound trend may persist in the near term.
Market participants are likely to keep a close watch on sectoral performance and broader economic indicators to gauge potential opportunities or risks in the coming sessions.
