PSX drops 532 points as volatility continues to dominate

Pakistan Stock Exchange (PSX) witnessed a volatile trading session on Tuesday as the benchmark KSE-100 Index dropped by 531.91 points, or 0.83% to close at 63,737.46 level.

During the intraday trade, the KSE-100 touched its highest level of 64,246.67, and the lowest point was 63,397.94. 

There were visible peaks and trough patterns in the KSE-100 index performance during the trading session. The day’s peak was at around 9:31 AM when the market resumed trading at 64,246. At around 10:50 AM, the market reflected a high trough when the KSE-100 index dropped by about 857 points.

Interestingly, the market continued to reflect volatility despite showing some sign of stability at the closing time.

In intra-day trading, companies from major industries on the KSE All Share index reflected a downward share price trend.

In the commercial bank sector, Askari Bank, Bank AlFalah and Bank Al-Habib reflected positive share price trends.

In the fertilizer sector, Engro Corporation's share price decreased by 3.64%, and Fauji Fertilizer Bin Qasim showed an increase in share price of just 0.08% despite a high shares trading volume of 4,661,944.

Jubilee Life Insurance dominated the insurance with a percentage increase in share price of 1.28%.

Telecard Limited in the technology and communication sector showed a positive percentage change in share prices of 0.18% on the same day when their shareholders, in the extraordinary general meeting, approved selling their entire shareholding in their subsidiary, Supernet Limited.

Kot Addu Power Company (KAPCO) in the power generation and distribution sector also showed a promising share price improvement of 0.21% - on the same day when the company placed a bid to acquire an equity stake in Tenaga Generasi Limited, which owns a 49.5 MW wind power project located in Sindh.