The Pakistan Stock Exchange (PSX) experienced a downturn on Tuesday after days of positive growth, with the benchmark KSE-100 Index closing at 93,224.56, a decrease of 423.76 points, or 0.45%, from the previous close of 93,648.32.
During the session, the index fluctuated between a high of 93,871.61 and a low of 92,893.11, with a trading volume of 408.5 million shares valued at PKR 20.87 billion.
Selling pressure was observed in key sectors including automobile assemblers, banking, fertilizer, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks including HUBCO, SNGPL, OGDC, PPL, NBP and HBL traded in negative.
This decline comes after the benchmark index surged by 357 points on Monday, marking a historic moment as it crossed the 94,000-point level for the first time during intraday trading.
Globally, Asian stocks eased, and the U.S. dollar hovered at four-month highs, while investor focus turned to Bitcoin, which hit a record high of $89,637. Investors are anticipating equities-boosting tax cuts and deregulation under Donald Trump’s second term, which contributed to the cryptocurrency’s unprecedented peak.
Meanwhile, an International Monetary Fund (IMF) delegation, led by Mission Chief Nathan Porter, held an initial meeting with Finance Minister Muhammad Aurangzeb on Tuesday. The IMF team arrived in Pakistan on Monday for discussions on the Extended Fund Facility (EFF) performance.
Key topics expected on the agenda include expenditure reduction and enhanced tax collection measures, as Pakistan seeks to meet its fiscal targets and navigate economic challenges under IMF guidance.
