The Pakistan Stock Exchange (PSX) witnessed a volatile trading session on Tuesday succumbed to profit-taking pressure and closed in negative territory after days of extending its record-breaking rally.
The KSE-100 Index ended on 135,940 points after losing 562.67 or 0.41 percent from the previous close of 136,502.54 points. The benchmark surged to an intraday high of 137,747.61 points, however, as the session progressed, profit-taking gripped the market, dragging the index to a low of 135,826.40, before settling at 135,939.87.
On Tuesday, BRIndex100 closed at 13,779.35 points, down by 75.86 points or 0.55 percent with a total volume of 606.36 million shares, while BRIndex30 settled at 39,618.74 points, losing 569.45 points or 1.42 percent with a total volume of 311.03 million shares.
Muhammad Hussain Athar of JS Global observed that the KSE-100 Index declined following a sustained bullish rally in recent sessions. He attributed this slight pullback to short-term profit-taking, which was expected after the sharp upward trajectory driven by surging remittances, rising foreign exchange reserves, and improved investor sentiment following positive signals from the IMF. Athar noted that despite the day’s decline, Pakistan’s underlying economic fundamentals remain strong, and the market continues to display inherent upward momentum. He advised that while some volatility may persist in the near term, the broader outlook stays cautiously optimistic as the country’s ongoing economic stabilization measures provide essential support for long-term market strength.
The session’s overall participation remained vibrant. Regular market volumes increased to 879.11 million shares compared to 841.45 million shares on Monday. The traded value jumped to Rs 38.61 billion from Rs 37.05 billion, supported by strong activity in mid-tier stocks and banks.
Among actively traded stocks, Bank of Punjab (BOP) dominated volumes with 61.31 million shares, rising marginally to close at Rs 13.13. K-Electric followed with 56.72 million shares, slipping to close at Rs 5.27. While Trust Modaraba also displayed remarkable activity, to finish at Rs 7.72 with 44.59 million shares changing hands.
In the gainers’ column, PIA Holding Company LimitedB posted the largest advance of Rs 2,876.82, closing at Rs 31,645.05, followed by Unilever Pakistan Foods Limited, which surged by Rs 460.68 to settle at Rs 23,796.18. On the other side, Hoechst Pakistan Limited recorded the steepest decline of Rs 106.27 to Rs 3,145.00, while Atlas Honda shed Rs 46.47 to close at Rs 1,095.57.
In terms of market capitalization, the bourse witnessed a noticeable decline as total capitalization slipped by Rs 92.96 billion, closing at Rs 16.401 trillion, compared to Rs 16.494 trillion a day earlier. This contraction reflected the broader sell-off that swept through the market despite initially bullish sentiments.
A total of 478 companies participated in trading, with 110 advancing, 345 declining, and 23 remaining unchanged.
The BR Automobile Assembler Index closed at 22,356.99 points, recording a decline of 386.18 points or 1.7 percent, with a total turnover of 6.43 million shares. The BR Cement Index settled at 10,678.81 points, down by 98.95 points or 0.92 percent, as 40.83 million shares changed hands.
The BR Commercial Banks Index, however, ended in positive territory at 40,518.53 points, gaining 43.40 points or 0.11 percent, with a robust turnover of 145.30 million shares. Meanwhile, the BR Power Generation and Distribution Index dropped 296.11 points, or 1.37 percent, to close at 21,338.82 points, on a total volume of 70.31 million shares.
The BR Oil and Gas Index declined by 152.95 points, or 1.26 percent, finishing at 12,030.90 points, with 33.60 million shares traded.
Lastly, the BR Technology & Communication Index lost 42.53 points, or 1.39 percent, to settle at 3,014.09, with a total turnover of 70.71 million shares.
Topline Securities, in its post-session commentary, noted that the market opened strongly as banking sector major spearheaded early gains. Optimism from robust remittance inflows, a stronger rupee, and corporate earnings anticipation fuelled the rally. However, the rally ran out of steam in the latter half, as investors shifted gears to book profits, prompting a wave of selling across the board.
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