KARACHI: The Pakistan Stock Exchange (PSX) faced another disappointing session on Wednesday, as the benchmark index lost 1,703.54 points, or 1.06 per cent, to close at 159,578.19. Despite an early uptick, the market was hit by profit-taking, pushing the index below the key psychological level of 160,000.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, described the session as “lacklustre,” with the index initially rising to a high of 162,052, a gain of 0.48pc. However, selling pressure quickly took hold, sending the index to a low of 159,217, a 1.28pc decline.
Investor sentiment turned increasingly bearish, fuelled by disappointing economic data. The country’s trade deficit for October surged 56pc year-on-year (YoY) to $3.2 billion, despite a slight improvement from September’s figures. For the July-October period of FY26, the cumulative trade deficit widened by 38pc YoY, reaching $12.58bn, up from $9.12bn last year. Analysts attribute this sharp rise to a combination of increasing imports and falling exports, which continue to strain Pakistan’s external account.
The sectors hardest hit were fertiliser, banking, cement, and technology, with major index heavyweights such as Fauji Fertiliser, Engro Corporation, Lucky Cement, Meezan Bank, and Systems Ltd contributing significantly to the decline. Collectively, these stocks shaved off 902 points from the benchmark.
Volume remained low, with total turnover dropping 4.35pc to 860.2 million shares. The trading value stood at Rs34.8bn, with K-Electric (KEL) leading the volume charts, surpassing 100 million shares. Over the past week, the index has fallen below its consolidation range of 160,000-170,000, raising concerns about the weakening buying momentum.
Market analysts suggest that 156,733 points — the level seen on Oct 30 — is now a crucial support level. If this support is breached, the market risks falling further. The absence of fresh market triggers after the corporate earnings season has also contributed to the market’s pessimistic outlook.
Published in Dawn, November 6th, 2025
