Investor caution returned to the equity market on Wednesday as global uncertainty, weak oil prices, and renewed concerns over Pakistan’s tax compliance regime unsettled trading.
Market participants navigated a volatile session amid jitters over US trade policy and warnings from the Asian Development Bank (ADB) about gaps in tax enforcement. Rupee instability and falling global equities further amplified selling pressure across key sectors.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 132,576.98 points, down 826.21 points or 0.62%, from the previous close of 133,403.19.
During the session, the index touched an intraday high of 133,566.37 points, gaining 163.18 points or 0.12%, before plunging to a low of 132,326.17 points, reflecting a drop of 1,077.02 points or 0.81%.
“Stocks under pressure on bearish global equities and weak global crude oil prices amid fears over outcome of US trade tariff,” said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities.
“Rupee instability, uncertainty over outcome of ADB concerns on FBR tax compliance played catalyst role in bearish activity at PSX,” he added.
In a separate development, the Securities and Exchange Commission of Pakistan (SECP) announced a record 35,000+ company incorporations in FY2025 — the highest ever for a single fiscal year. This milestone is attributed to the SECP’s ongoing digital transformation and corporate registry reforms.
As of March 3, 2025, all newly incorporated companies are required to issue shares in dematerialised form to prevent ownership disputes. The SECP is also aligning with the World Bank’s B-Ready framework, incorporating gender-disaggregated data and verifying Ultimate Beneficial Owners (UBOs).
Additionally, draft amendments have been floated to make UDIN mandatory for ICMAP members and extend cost audit regulations to the automobile sector.
On Tuesday, the benchmark KSE-100 Index edged up by 33.04 points, or 0.02%, to close at 133,403.19 points, compared to 133,370.15 in the previous session. The intraday high was recorded at 134,200.27 points while the low hit 132,696.36.
