The Pakistan Stock Exchange (PSX) experienced a volatile trading session on Tuesday, with the benchmark KSE-100 Index fluctuating throughout the day before closing lower by 802.56 points (-0.69%) at 115,042.25.
The index initially surged to an intraday high of 116,424.85, gaining 580.04 points, but selling pressure in the latter half of the session erased those gains, dragging it to an intraday low of 114,783.71 (-1,061.10 points).
Heavyweight stocks including MARI (-158.25 points), HUBC (-131.19 points), OGDC (-90.14 points), LUCK (-89.70 points), and PSO (-73.69 points) significantly contributed to the decline. Sector-wise, Oil & Gas Exploration Companies (-339.38 points), Power Generation & Distribution (-163.20 points), Cement (-125.49 points), and Pharmaceuticals (-76.98 points) led the market’s downturn.
However, gains in Fertiliser (+128.45 points), Investment Banks/Securities Companies (+77.97 points), and Textile Composite (+25.48 points) offered some support. Notable contributors on the upside included FFC (+119.58 points), ENGROH (+104.31 points), and MEBL (+76.94 points).
Market participation saw an uptick as the total traded volume across the All-Share Index increased to 767.27 million shares from 675.05 million in the previous session, though the value of shares traded declined to Rs31.83 billion from Rs37.53 billion.
Cnergyico PK led the volume charts with 114.03 million shares traded, closing 5.81% higher at Rs7.29. Other active stocks included Bank Makramah (69.48 million shares) and WorldCall Telecom (64.23 million shares).
The All-Share Index recorded a net loss of 522.76 points (-0.73%), closing at 71,419.59. Among the 450 companies traded, 135 advanced, 266 declined, and 49 remained unchanged.
Globally, financial markets were influenced by U.S. President Donald Trump’s announcements of potential trade tariffs on Mexico and Canada, which weighed on investor sentiment. Trump’s plans for 25% tariffs, coupled with uncertainty surrounding economic policies, sparked volatility in U.S. and Asian markets.
The Pakistani rupee also saw a slight decline, depreciating 0.06% against the U.S. dollar to close at Rs278.82 in the interbank market.
Market participants now await the upcoming Monetary Policy Committee (MPC) meeting on January 27, with expectations of a potential interest rate cut. Analysts at Intermarket Securities noted that market momentum could hinge on monetary policy developments, though the absence of major triggers limits the potential for a sustained rally.
