Selling pressure returned to the Pakistan Stock Exchange on Wednesday, with shares slipping during the latter half of the session as investors stayed cautious over developments linked to US-Iran talks.
The benchmark KSE-100 Index remained under pressure through most of the day and was down by more than 1 percent at one stage. By 2:35pm, the index had fallen to 171,283.53, losing 1,872 points. However, a mild recovery followed, trimming losses. By 2:59pm, the index stood at 172,000.96, still lower by 1,154 points, or 0.67 percent.
Broad-based selling across sectors
The decline was largely driven by selling in major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing firms, power generation, and refineries. Heavily weighted stocks such as HUBCO, MARI, OGDC, PPL, HBL, MCB, MEBL and NBP remained under pressure and pulled the index lower.
Market activity stayed healthy, with trading volume reaching over 317 million shares. The index moved within a range of 171,254.81 to 173,452.66 during the session.
Despite the overall negative trend, some stocks attracted strong buying interest. YOUW and CLOV were among the top gainers, each rising sharply, while BECO and ESBL also posted notable gains. On the other hand, stocks such as OTSU and KOIL faced heavy selling and hit their lower limits.
Previous session and global cues
The latest decline comes a day after the market ended on a positive note. On Tuesday, the KSE-100 Index had gained 959 points to close at 173,155.79, as investors showed cautious optimism.
Globally, market sentiment remained relatively stable. US stock futures edged higher after President Donald Trump said the Iran ceasefire would be extended indefinitely. However, uncertainty remains as it is not yet clear whether Iran and Israel will agree to the move.
Oil prices also held firm due to the continued closure of the Strait of Hormuz, keeping energy markets tight. Meanwhile, Asian markets showed mixed performance, with Japan’s Nikkei index edging slightly lower as investors booked profits after recent gains.
Overall, global markets have recovered in recent weeks following earlier losses linked to tensions in the Middle East, though investors continue to monitor geopolitical developments closely.
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