The Pakistan Stock Exchange (PSX) experienced a volatile session on Tuesday, with the benchmark KSE-100 Index reversing gains after a strong start, closing down by 2,062.79 points, or 1.27%, at 160,101.02.
The market opened on a positive note, with the KSE-100 hitting an intra-day high of 163,380.67. However, profit-taking in the final hours dragged the index to an intra-day low of 159,805.34.
According to Topline Securities, the session was marked by a tug-of-war between bulls and bears, with early gains being erased by aggressive selling towards the close. The report attributed the mixed performance to the ongoing futures rollover week and corporate earnings announcements, which kept investors cautious.
Losses were mainly driven by HUBC, MEBL, HBL, OGDC, and UBL, which collectively shaved off 585 points. On the other hand, LUCK, PSEL, SRVI, BAHL, and TRG provided some support, contributing 171 points to the index.
In other developments, Pakistan and Saudi Arabia agreed to launch an Economic Cooperation Framework to strengthen trade and investment relations. Meanwhile, talks between Pakistan and Afghanistan in Istanbul aimed at a long-term truce ended without resolution.
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) decided to keep the policy rate unchanged at 11% on Monday. The committee noted that inflation rose to 5.6% in September, while core inflation remained steady at 7.3%.
The IMF is expected to hold its board meeting by December 2025 to approve the release of the next $1.2 billion tranche to Pakistan.
On the currency front, the Pakistani rupee hit a nearly 6-month high against the US dollar in the inter-bank market, continuing its gradual appreciation.
Volume on the all-share index increased to 1,019 million from 1,007 million in the previous session, with the value of shares rising to Rs36.94 billion from Rs34.82 billion.
K-Electric Ltd led the volume with 94.59 million shares, followed by WorldCall Telecom with 83.31 million shares, and B.O.Punjab with 60.38 million shares.
Shares of 476 companies were traded, with 113 registering an increase, 324 declining, and 39 remaining unchanged.
