The Pakistan Stock Exchange (PSX) opened lower on Wednesday as selling pressure and profit-taking continued, pulling the KSE-100 Index down by more than 600 points in early trading.
At 9:45 a.m., the benchmark KSE-100 was hovering at 165,499.43 points, showing a decline of 674.31 points, or 0.41%. Investors remained cautious as they offloaded positions in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, and power generation.
Major index-heavy stocks such as HUBCO, MCB, NBP, FFC, MARI, POL, and WAFI traded in the negative zone, contributing to the downward trend.
Market sentiment weakened after the World Bank lowered Pakistan’s GDP growth forecast for the fiscal year 2025–26. The Bank revised its projection from 3.1% to 2.6%, citing the damaging impact of floods on agriculture and supply chains. It also warned that inflation may rise due to disruptions in food production and transport.
On Tuesday, the KSE-100 Index had already witnessed a sharp decline as institutional investors opted for heavy profit-taking. The index dropped by 1,578.66 points, or 0.94%, closing at 166,173.75 points.
Analysts said the ongoing correction in the KSE-100 reflects investor concerns over slowing economic growth, rising inflation, and external challenges. They added that a lack of positive triggers and global market uncertainty is further weighing on investor confidence.
On the global front, Asian stocks also moved lower on Wednesday following losses on Wall Street. Political uncertainty in France and Japan, along with concerns over a possible U.S. government shutdown, pushed investors toward safer assets like gold.
Gold prices surged to a record $4,000 per ounce, while the MSCI Asia-Pacific Index fell 1%. Japan’s Nikkei rose 0.35%, staying close to its record high
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