Pakistan’s benchmark KSE-100 index remained under pressure during early intraday trading on Wednesday, falling sharply amid subdued activity and broad-based selling.
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At 11:05am PST, the index was trading at 186,658.35 points, down 1,722.03 points, or 0.91 per cent, from its previous close of 188,380.38. The benchmark initially touched an intraday high of 188,923.39 before reversing course to a session low of 186,658.35.
Trading volumes remained modest in the first half of the session, with 117.82 million shares changing hands and total traded value standing at Rs11.61 billion.
Market activity was concentrated in a limited number of high-volume stocks. K-Electric led turnover with 41.52 million shares, though the stock slipped 0.96pc to Rs7.23. Waves Home Appliances Limited attracted strong buying interest, rising 6.65pc to Rs11.06 on volumes of over 20.22 million shares. Sui Southern Gas Company advanced 2.77pc to Rs35.67, while WorldCall Telecom Limited edged down 0.58pc to Rs1.70.
Among other actively traded names, Nishat Chunian Power Limited fell 2.56pc to Rs76.80, Bank of Punjab declined 1.14pc to Rs40.82, and Hascol Petroleum Limited shed 1.75pc to Rs24.63.
On the upside, Signature Residency REIT topped gainers, surging 25pc to Rs17.50. Other advancers included Javedan Corporation (Pref), East West Insurance Company Limited, Reliance Weaving Mills Limited, Blessed Textiles Limited, Aisha Steel Convertible (Pref), The Pakistan Credit Rating Agency Ltd, Gillette Pakistan Limited, Apna Microfinance Bank Limited and Ideal Spinning Mills Limited.
Heavy selling was seen in several stocks. Kohinoor Power Company Limited and Kohinoor Industries Limited both dropped 10pc to Rs44.60 and Rs63.06, respectively. First Tri-Star Modaraba slipped 9.99pc to Rs40.19, while Khairpur Sugar Mills Limited declined 8.09pc to Rs151.65.
