‘Bloodbath' on PSX
The benchmark KSE-100 Index bled throughout the day, closing with a massive loss of 1,949.56 points, a 1.57 percent decrease, to settle at 122,143.57 points. The index fluctuated between an intraday high of 123,058.06 and a low of 121,604.60. The steep decline on Friday was a severe intensification of Thursday's performance, where the index had only shed 259.56 points to close at 124,093.12 points.
On Friday, the BRIndex100 dropped by 207.55 points or 1.57 percent to close at 13,037.26 points with a total trading volume of 698.1 million shares. The BRIndex30 also fell by 745.25 points, or 1.94 percent, ending at 37,726.29 points with 400.1 million shares traded.
Analysts noted that the sell-off was broad-based, dragging down all major indices. Topline Research noted that KSE-100 Index largely traded in negative zone during the trading session in line with international and regional, which came down on Israel attack on Iran.
Top negative contribution to the index came from ENGROH, FFC, LUCK, BAHL, MEBL, SYS and PPL, as they cumulatively contributed 863 points to the index.
The widespread sell-off was accompanied by a significant drop in market activity compared to previous day. The total traded value in the ready market slumped to Rs 29.56 billion from the previous day's much healthier Rs 50.54 billion. Similarly, turnover decreased to 968.34 million shares from 1.02 billion shares traded on Thursday.
The overall market capitalization too eroded substantially, falling to Rs 14.75 trillion from Rs 14.95 trillion a day earlier, wiping out Rs 20 billion in investor wealth.
Despite the downturn, several companies saw heavy trading volumes. Pervez Ahmed Co was the volume leader with 116.66 million shares traded, closing at Rs 2.93. It was followed by WorldCall Telecom, which saw 100.89 million shares change hands to close at Rs 1.45. Capital Sec was also active, with a turnover of 85.32 million shares and its closing rate was Rs 3.06.
The market remained highly volatile throughout the day. Supernet Technologies Limited led the gainers, rising by Rs 41.74 to close at Rs 873.40. Faisal Spinning Mills Limited also performed well, adding Rs 29.96 to reach Rs 329.96. On the losing side, PIA Holding Company Limited saw the biggest drop, falling by Rs 2,098.79 to close at Rs 18,889.10, while Khyber Textile Mills Limited lost Rs 199.39, ending at Rs 1,794.55.
As the market was mostly negative, selling pressure dominating the session. Out of 469 active companies, 304 saw their share prices fall, 130 gained, and 35 remain unchanged.
The BR Automobile Assembler Index closed at 20,814.19 points, down by 215.84 points or 1.03 percent, with a trading volume of 11.3 million shares. The BR Cement Index ended at 10,509.01 points, losing 275.45 points or 2.55 percent, as 75.1 million shares were traded.
The BR Commercial Banks Index settled at 36,417.30 points after shedding 464.59 points or 1.26 percent, with 67.7 million shares changing hands. In contrast, the BR Power Generation and Distribution Index inched up by 15.09 points or 0.07 percent, closing at 22,355.69 points with a turnover of 28.0 million shares.
The BR Oil and Gas Index dropped 163.83 points or 1.39 percent to finish at 11,610.90 points, with 44.3 million shares traded. Meanwhile, the BR Technology and Communication Index declined by 60.59 points or 2.04 percent, closing at 2,902.99 points, leading the market in volume with 154.4 million shares traded.
According to Ahsan Mehanti of Arif Habib Corp, Stocks at the Pakistan Stock Exchange (PSX) plunged on Friday as escalating tensions in the Middle East triggered a wave of panic selling. Market sentiment took a sharp hit after reports of Israeli strikes on Iranian targets, raising fears of a broader regional conflict, he added.
The pressure intensified as global equities tumbled on geopolitical risks, while a weakening rupee added to the nervousness among investors the combination of heightened regional uncertainty and a falling local currency played a catalytic role in driving the market's sharp downturn.
Copyright Business Recorder, 2025
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