Pakistan Stock Exchange Slumps 1,598 Points Amid Heavy Selling

Stocks observe a bearish trend before settling at 113,443.43

Wed Jan 22 2025
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ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed significant selling pressure on Wednesday, with the benchmark KSE-100 Index plummeting by 1,598.82 points (1.39%) to close at 113,443.43.

Selling was observed in key sectors including automobile assemblers, commercial banks, fertilizer, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks including HUBCO, SSGC, SNGP, OGDC, MARI, PPL, ENGRO, MEBL, NBP and UBL traded in the red.

“We think politics and market concerns around the new US administration are key factors dragging investor sentiment,” said Intermarket Securities in a note.

Overall  743,632,966 shares were entertained during the day as compared to 767,270,814  shares the last working day, whereas the price of shares stood at Rs35.245 billion against Rs.31.825 billion on the previous trading day.

As many as 454 companies transacted their shares in the stock market, 93 of them registered gains and 307 met losses, whereas the share price of 54 companies remained unchanged.

The three top trading companies were WorldCall Telecom with 100,218,430 shares at Rs 1.7 per share followed by Cnergyico PK with 96,976,679 shares at Rs.7.36 per share whereas Fauji Cement settled with 83,552,040 shares at Rs.38.58 per share.

Unilever Pakistan Foods Limited witnessed a maximum increase of Rs349.99 per share closing at Rs 21,900.00 whereas Hoechst Pakistan Limited was the runner-up with a Rs 183.27 increase in its share price to close at Rs 3,291.79.

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Ismail Industries Limited witnessed a maximum decline of Rs.107.96 per share price, closing at Rs 1,857.50, whereas the runner-up was Mari Energies Limited with a fall of Rs 64.55  in its per share price to Rs.594.98.

On Tuesday, the Pakistan Stock Exchange (PSX) observed a turbulent trading session, with the benchmark KSE-100 Index fluctuating in both directions before ending the day with a sharp decline of over 800 points, closing at 115,042.25.

Meanwhile, on Wednesday, international stock markets showed gains, buoyed by a series of new policies introduced by US President Donald Trump and strong corporate earnings, which boosted investor confidence.

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