Pakistan Stock Exchange Sheds Over 800 Points Amid Selling Pressure

PSX settles at 111,935.38 with a negative change of 0.72%

Tue Feb 04 2025
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ISLAMABAD: Selling pressure returned to the Pakistan Stock Exchange (PSX) on Tuesday, causing the benchmark index to shed 809.63 points after an initial session of buying momentum.

The index closed at 111,935.38 points, down 0.72% from the previous session’s 112,745.01 points.

Overall, 436,325,053 shares were traded during the day as compared to 401,456,556 shares the last working day, whereas the price of shares stood at Rs23.225 billion against Rs20.351 billion on the previous trading day.

As many as 440 companies transacted their shares in the stock market, 129 of them registered gains and 225 met losses, whereas the share price of 56 companies remained unchanged.

The three top trading companies were WorldCall Telecom with 54,615,977 shares at Rs 1.58 per share followed by Cnergyico PK with 21,090,416 shares at Rs 7.49 per share whereas K-Electric Limited settled with 20,621,518 shares at Rs 4.43 per share.

Sazgar Engineering Works Limited recorded a maximum increase of Rs78.01 per share closing at Rs1,140.96 whereas Bata Pakistan Limited was the runner-up with Rs 28.54 rise in its share price to close at Rs 1,968.16.

Rafhan Maize Products Company Limited witnessed a maximum decline of Rs.86.15 per share price, closing at Rs 9,397.18, whereas the runner-up was Sapphire Textile Mills Limited with a fall of Rs 39.64 in its per share price to Rs.1,165.68.

Experts linked Monday’s sharp decline to the global market sell-off, triggered by U.S. President Donald Trump’s imposition of hefty import duties on Canada, Mexico, and China.

“However, he relaxed it for Mexico overnight – hence global markets have recovered today (US equity market closed positively last night),” said Intermarket Securities in a note.

“We expect the Pakistan market to also rebound today, but it is likely to remain range-bound in the near term given the lack of new positive triggers and fresh liquidity.

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Globally, Hong Kong shares hit two-month highs, US equity futures rose and currencies swung to and fro in big ranges as investors scrambled to keep up with sudden changes in US trade policy.

European equity futures increased modestly by 0.2%. After an earlier surge, oil prices fell, with Brent crude trading at $75.46—close to a one-month low.

Meanwhile, Australian shares rose by 0.4% and Japanese stocks climbed 1.7%, although these gains were less pronounced than Monday’s losses amid ongoing trade-war concerns affecting global financial markets.

 

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