The Pakistan Stock Exchange (PSX) experienced significant profit-taking on Tuesday, with the benchmark KSE-100 Index closing lower by over 1,400 points. The market opened positively, reaching an intra-day high of 140,331.01, but the buying momentum waned as investors pulled back during the latter hours, pushing the index down to a low of 137,636.37. At close, the index settled at 137,964.81, reflecting a decrease of 1,415.24 points or 1.02%.
Investor sentiment was also influenced by developments in the trade talks between Pakistan and the United States. Finance Minister Muhammad Aurangzeb departed for the U.S. for his second visit in two weeks, aiming to finalize a trade deal. This followed Foreign Minister Ishaq Dar’s statement that the two nations were close to sealing the deal.
Earlier, the PSX had shown modest gains, fueled by positive investor interest in sectors such as cement and technology ahead of upcoming corporate earnings and a monetary policy announcement. The KSE-100 Index gained 172.77 points, or 0.12%, to close at 139,380.06 points on Monday.
On Tuesday, the KSE-100 Index experienced a wide fluctuation, trading within a range of 2,694.64 points, with the intraday high of 140,331.01 and a low of 137,636.37. The market’s total volume stood at 212.67 million shares.
According to Ali Najib, Deputy Head of Trading at Arif Habib Limited, the outlook remains largely intact, with the 137,000-point level seen as a key support. If breached, the index could potentially move toward the 135,000-point mark, where expected monetary easing and attractive valuations could trigger renewed buying interest.
Among the top decliners, key companies such as JVDC, PSEL, and HGFA saw significant losses, with JVDC falling 6.88%. Commercial banks, particularly UBL and HBL, also weighed down on the index, contributing to the overall negative sentiment. On the other hand, GHGL, BWCL, and ILP were the top gainers of the day, with GHGL gaining 9.44%.
The broader All-Share Index also closed lower, down by 768.82 points or 0.89%, with total traded volume recorded at 606.33 million shares. The traded value dropped to Rs32.69 billion, showing a decrease of Rs1.88 billion compared to the previous session. The market saw 357,261 trades across 484 companies, with 108 closing up, 350 closing down, and 26 remaining unchanged.
Overall, the market’s performance reflected a cautious approach amid profit-taking and external market developments, with key sectors and individual stocks playing a significant role in shaping the day’s outcome.
