The Pakistan Stock Exchange (PSX) closed lower on October 23, 2025, as profit-taking and global cues weighed on sentiment. The benchmark KSE-100 index fell 1,962.87 points, or 1.18%, to settle at 164,590.41. The day started with the index opening at 166,457.67 but failed to hold gains, hitting a high of 166,720.42 before sliding to a low of 164,395.97.
Volume traded stood at 485.01 million shares, up 31% from the previous session, signaling active participation despite the downturn. Year-to-date, the index remains strong with a 42.96% gain, though the 30-day change softened to 5.35%.
KSE-100: Pullers and Draggers
Despite the overall decline, select stocks provided support. MCB led the gainers, contributing +56.30 points, followed by FFC at +39.66 points and ILP at +36.62 points. On the flip side, BAHL dragged the index by -59.70 points, with HMB (-19.98) and NBP (-19.79) also weighing in.
- Top Pullers: MCB (+56.30 pts), FFC (+39.66 pts), ILP (+36.62 pts)
- Top Draggers: BAHL (-59.70 pts), HMB (-19.98 pts), NBP (-19.79 pts)
The session reflected caution ahead of key earnings reports, with banking and cement sectors showing mixed results.
KMI-30 Follows Suit with Losses
The Shariah-compliant KMI-30 index mirrored the broader market, dropping 2,915.72 points or 1.2% to end at 238,421.4. It opened at 241,082.27, reached a high of 241,935.37, and bottomed at 238,097.9.
Volume was 93.18 million shares, with a 28.9% month-on-month dip. Year-to-date performance stands at 35.47%, but the 30-day mark is down 5.35%.
Pullers included SEARL (+26.41 pts) and GINI (+18.71 pts), while LUCK (-89.83 pts), ENGRO (-59.20 pts), and MARI (-54.18 pts) pulled it lower.
- Top Pullers: SEARL (+26.41 pts), GINI (+18.71 pts), EFERT (+14.71 pts)
- Top Draggers: LUCK (-89.83 pts), ENGRO (-59.20 pts), MARI (-54.18 pts)
ETFs and REITs: Pockets of Activity
Exchange-traded funds saw modest trading, with MZNPIETF topping the list at Rs 7.01 million in value, followed by MIIETF at Rs 6.10 million and JSMFETF at Rs 5.19 million. These funds drew interest amid the index dip, offering diversified exposure.
Real estate investment trusts (REITs) were more active, led by IREIT at Rs 16,990,192 in value traded. DCR followed at Rs 13,070,105, GRR at Rs 1,489,910, and TPLTRF at Rs 1,087,193. The sector’s resilience highlights ongoing investor appetite for property-linked assets.
Market Sentiment and Outlook
The pullback came after a strong run, with the KSE-100 up over 90% in the past year. Investors eyed upcoming corporate results and potential rate cuts from the State Bank, which could lift sentiment.
Foreigners were net buyers by Rs 1.2 billion, while locals sold Rs 0.8 billion. Sectors like banking and oil & gas held firm, but autos and cement lagged.
For live reactions, here’s a recent X post from PSXInsights:
Wrapping Up the Day
October 23 marked a breather for PSX bulls, but underlying strength persists. With FYTD gains at 42.96%, the market eyes recovery. Always consult professionals before trading—disclosures note this is for info only.
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