The benchmark KSE-100 Index closed Wednesday’s session at 147,494.03, down 941.03 points or 0.63 percent. The market opened on a strong note, hitting an intraday high of 149,237.91, but heavy selling in the second half dragged the index to a low of 147,337.02 before closing in the red.
Market sentiment was rattled by reports of severe flooding in northern Pakistan, following India’s release of water from its dams. The flood alert triggered investor anxiety, mirroring Tuesday’s 677.75-point decline, which analysts had also linked to flood-related concerns.
Major pressure came from sectors including cement, commercial banks, fertilizer, pharmaceuticals, and oil and gas exploration. HBL, Fatima Fertilizer, Service Industries (SRVI), and NBP were among the key laggards that weighed down the index.
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On the other hand, resilience was seen in investment banks, cable and electrical goods, miscellaneous, automobile assemblers, and engineering sectors. Companies such as Meezan Bank (MEBL), EngroH, and MCB supported the index with modest gains.
Trading volume on the KSE-100 stood at 186.41 million shares, with 21 companies closing higher and 78 lower. The All-Share Index also fell, ending at 90,983.70 with a loss of 570.94 points or 0.62 percent.
Overall market activity recorded 856.66 million shares traded across 477 companies. Of these, 129 closed up, 312 down, and 36 remained unchanged. The total traded value slipped by Rs2.26 billion to Rs29.29 billion.
