The KSE-100 Index ended Wednesday’s session at 147,494.03, reflecting a decrease of 941.03 points, or 0.63%. The index began the day on a positive note, reaching an intra-day high of 149,237.91. However, panic selling in the latter half of the session led to a sharp reversal, pushing the index to a low of 147,337.02 before closing significantly lower.
The decline in the index was attributed to panic selling fuelled by reports of heavy floods in northern Pakistan, triggered by India’s release of water from its dams. This flood alert caused market uncertainty, resulting in investor apprehension. The situation in the market mirrored the sharp 677.75-point drop recorded on Tuesday, which analysts also linked to concerns over the flooding situation.
Notably, sectors such as cement, commercial banks, fertilizer, pharmaceuticals, and oil & gas exploration companies contributed significantly to the losses. Companies like HBL, FATIMA, SRVI, and NBP were among the biggest laggards, pulling down the index by a significant margin.
Despite the widespread losses, some sectors remained resilient. Investment banks, cable & electrical goods, miscellaneous, automobile assemblers, and engineering sectors provided some support to the index. Companies such as MEBL, ENGROH, and MCB saw gains, contributing positively to the overall performance of the market.
Trading volume on the KSE-100 Index reached 186.41 million shares, with 21 companies closing in the green and 78 in the red. The broader market saw a decrease, with the All-Share Index closing at 90,983.70, reflecting a loss of 570.94 points or 0.62%.
The total market volume for the day stood at 856.66 million shares, slightly higher than the previous session, though the overall traded value decreased by Rs2.26bn, settling at Rs29.29 billion. There were 357,536 trades reported across 477 companies, with 129 closing up, 312 down, and 36 remaining unchanged.
