KARACHI: The Pakistan Stock Exchange (PSX) saw a volatile trading session on Tuesday, with the benchmark KSE-100 Index swinging sharply before closing nearly flat.
The index dipped early in the day due to selling pressure, hitting an intraday low of 132,696.35. Sentiment improved mid-session as buying activity lifted the index to a high of 134,200.27. However, late-session profit-taking eroded most of the gains, and the KSE-100 ended the day up just 33.05 points or 0.02% at 133,403.19.
Buying activity was observed in sectors such as automobile assemblers, commercial banks, cement, oil marketing companies, and power generation. Notable gainers included index-heavy stocks such as HUBCO, SSGC, and SNGPL.
NBP Funds, in a note, said the continuation of the bullish momentum depends on the implementation of reforms supported by the IMF. These include enforcing fiscal discipline, expanding the tax base, privatising state-owned enterprises, and reducing subsidies—steps the fund views as necessary for macroeconomic stability.
The market had rallied strongly on Monday, climbing by 1,421 points or 1.08% to close at a record 133,370, driven by positive earnings outlooks, improved macroeconomic data, and reduced concerns over external trade.
