The Pakistan Stock Exchange (PSX) experienced a volatile session on Tuesday, as early bullish momentum gave way to heavy selling pressure, pulling key indices deep into negative territory by the close.
The benchmark KSE-100 Index closed at 137,964.82 points on Tuesday, marking a sharp decline of 1,415.24 points, or 1.02 percent, from the previous day’s close of 139,380.06 points. The index had surged to an impressive intraday high of 140,331.02 points, however the market reversed course, plunging to an intraday low of 137,636.37 points as selling pressure intensified.
On Tuesday, BRIndex100 closed at 14,096.04 points, down by 185.97 points or 1.3 percent compared to the previous close, with a total volume of 466.583 million shares. Meanwhile, BRIndex30 settled at 39,315.46 points, marking a decline of 584.85 points or 1.47 percent, with 219.135 million shares traded.
According to Topline Securities, the bulls opened today’s trading session on a strong footing, however, the optimism was short-lived as heavy selling pressure took over, allowing the bears to regain dominance. It said that sentiment turned negative largely due to speculation surrounding Engro Fertilizers (EFERT), with investors bracing for lower-than-expected earnings and dividend. The much-anticipated result, initially scheduled for release today, has now been deferred to Wednesday morning, adding a layer of uncertainty and fueling the selloff.
Market breadth was heavily skewed in favor of losers. 350 companies closed lower against 108 gainers, while 26 remained unchanged in total 484 active companies.
Turnover in the ready market inched up to 606.3 million shares, compared to 590 million in the previous session. However, the traded value fell to Rs 32.68 billion from Rs 34.56 billion. Market capitalization also declined to Rs 16.57 trillion from Rs 16.72 trillion, reflecting a loss of Rs 149 billion in investor wealth.
Telecard Limited led the volumes chart on Tuesday, recording the highest turnover of over 38.7 million shares. The stock closed at Rs 7.84, gaining modestly from its previous session. Bank of Punjab followed closely with 31.9 million shares traded, closing slightly lower at Rs 13.47. WorldCall Telecom ranked third in turnover, with 28.5 million shares changing hands, ending the day at Rs 1.44.
Among the top gainers, The Thal Industries Corporation Limited saw the sharpest rise, gaining Rs 55.71 to close at Rs 614.16. Archroma Pakistan Limited followed with a substantial increase of Rs 47.05, settling at Rs 517.52. Conversely, Unilever Pakistan Foods Limited recorded the steepest decline of the session, falling by Rs 891.72 to close at Rs 32,620.41. PIA Holding Company Limited-B followed with a sharp decline of Rs 390.57, settling at Rs 31,157.43, as pressure mounted across key corporate entities.
The BR Automobile Assembler Index ended the session at 23,264.38 points, recording a decline of 156.61 points, or 0.67 percent, with a total turnover of 8.47 million shares. The BR Cement Index slipped by 128.94 points, or 1.18 percent, to close at 10,799.44 points, while trading volume stood at 29.04 million shares.
The BR Commercial Banks Index finished at 39,745.17 points, down 320.14 points, or 0.8 percent, with a turnover of 70.46 million shares, reflecting broad pressure across the banking sector. The BR Power Generation and Distribution Index dropped 406.38 points, or 1.88 percent, to close at 21,236.70 points, with 21.18 million shares traded during the session.
Meanwhile, the BR Oil and Gas Index closed at 11,953.76 points, losing 140.81 points, or 1.16 percent, on a total turnover of 16.73 million shares. The BR Technology and Communication Index also came under pressure, declining by 44 points, or 1.43 percent, to settle at 3,024.20 points, with the highest sectoral turnover of the day at 94.84 million shares.
According to Ahsan Mehanti of Arif Habib Corporation, stocks closed bearish amid uncertainty ahead of the SBP policy announcement due on Wednesday. He added that political noise, concerns over rupee volatility, and pressure from futures rollover also acted as key catalysts behind the market’s negative trend.
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