KARACHI: Trading at the Pakistan Stock Exchange (PSX) remained highly volatile on Wednesday as investors reacted cautiously to escalating geopolitical tensions in the Middle East, triggering sharp intraday fluctuations in the benchmark KSE-100 Index. As selling pressure intensified towards the close, the index shed 903.12 points, or 0.53%, to settle at 169,427.44 points.
Intraday Swings Reflect Uncertainty
The market opened on a positive note, with the KSE-100 Index gaining 25.95 points (0.02%) to reach 170,356.51 points at 9:44am, shortly after the commencement of trading. However, sentiment remained fragile throughout the session, resulting in frequent swings between positive and negative territory. The index witnessed heightened volatility, touching an intraday high of 170,729.57 points and a low of 169,346.38 points before coming under sustained pressure in the latter part of the day.
Investor sentiment remained cautious amid reports that a US Army Apache helicopter was brought down near the Strait of Hormuz, prompting retaliatory US strikes on Iranian targets and raising fears of a broader regional conflict. These developments fuelled uncertainty across global financial markets, supporting a risk-off trading environment.
Market Performance and Key Contributors
According to Topline Securities, the local bourse witnessed a volatile trading session as investors navigated sharp swings in market sentiment. The benchmark index remained turbulent, recording an intraday high of 399 points and an intraday low of 984 points, reflecting heightened uncertainty and cautious investor behaviour. The wide intraday range reflected a tug-of-war between cautious optimism and lingering concerns, with participants assessing evolving macroeconomic cues while positioning ahead of key market triggers.
Heavyweight stocks, including Meezan Bank, International Steels, Pakistan Oilfield, International Industries, and Interloop, collectively added 183 points to the benchmark index. On the other hand, Bank Al Habib, United Bank, MCB Bank, Engro Holdings, and Oil & Gas Development Company weighed on performance, collectively eroding 464 points from the index.
Trading Volume and Activity
Cumulatively, trading volume jumped to 791.6 million shares from Tuesday’s close of 767.4 million. The value of traded shares stood at Rs25.4 billion. Shares of 488 companies were traded, of which 191 stocks closed higher, 258 fell, and 39 remained unchanged. TPL Properties led the volume chart with trading in 64 million shares, rising Rs0.11 to close at Rs11.42.
