On Wednesday, the capital market closed in negative territory as the bourse faced pressure from bearish global equities, a decline in crude oil prices, and concerns regarding the outcome of US trade tariff decisions and tax compliance issues highlighted by the Asian Development Bank (ADB).
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 132,576.98 points, marking a decrease of 826.21 points or 0.62% from its previous close of 133,403.19. During the trading session, the index briefly touched an intraday high of 133,566.37 points, registering a gain of 163.18 points or 0.12%, before plummeting to an intraday low of 132,326.17 points, which reflected a drop of 1,077.02 points, or 0.81%.
“Stocks were under pressure due to bearish global equities and weak global crude oil prices amidst fears over the outcome of US trade tariffs,” stated Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities. He further added, “Rupee instability and uncertainty over the outcome of ADB’s concerns on FBR tax compliance played a catalytic role in the bearish activity at PSX.”
SECP Achieves Record Company Incorporations
In a separate, positive development, the Securities and Exchange Commission of Pakistan (SECP) announced a record-breaking 35,000+ company incorporations in FY2025. This represents the highest number ever recorded for a single fiscal year and is attributed to the SECP’s ongoing digital transformation and significant corporate registry reforms.
As of March 3, 2025, all newly incorporated companies are now mandated to issue shares in dematerialized form to prevent ownership disputes. The SECP is also actively aligning with the World Bank’s B-Ready framework, which involves incorporating gender-disaggregated data and verifying Ultimate Beneficial Owners (UBOs). Additionally, draft amendments have been proposed to make UDIN mandatory for ICMAP members and to extend cost audit regulations to the automobile sector.
Previous Session’s Performance
On Tuesday, the benchmark KSE-100 Index had seen a marginal gain, rising by 33.04 points, or 0.02%, to close at 133,403.19 points, compared to 133,370.15 in the preceding session. The intraday high for Tuesday was recorded at 134,200.27 points, while the low reached 132,696.36.
