KARACHI – Pakistan Stock Exchange (PSX) traded in volatile territory on Tuesday as early gains were erased by profit-taking, with cautious investor sentiment prevailing amid weakness in regional equity markets.
The benchmark KSE-100 Index opened on a positive note and climbed by as much as 375 points during early trading, reaching an intraday high of 187,829.72.
However, the upward momentum proved short-lived as investors booked profits, pushing the benchmark index lower. By mid-morning, the KSE-100 Index had fallen by 436 points to 187,018.89 before recovering some of the losses.
At 12:49pm, the benchmark index was trading at 187,219.45, down 235.24 points, or 0.13 per cent, while trading continued.
Market sentiment remained subdued as most major Asian stock markets traded lower, prompting investors to adopt a cautious approach after the Pakistan Stock Exchange’s recent record-breaking rally.
Selling pressure was observed across several key sectors, including automobile assemblers, cement manufacturers, commercial banks, fertiliser companies, oil and gas exploration firms, oil marketing companies, power generation companies, and refineries, weighing on the overall market performance.
During the trading session, the benchmark index touched an intraday high of 188,126.67 and a low of 186,686.32, reflecting significant volatility throughout the day.
Trading activity remained robust, with more than 251.22 million shares changing hands. The total value of traded shares stood at approximately Rs18.90 billion, indicating continued investor participation despite the market’s decline.
Market analysts said investors opted for selective profit-taking following the stock market’s recent surge to record highs. They added that traders are closely watching regional market trends while awaiting fresh domestic economic and corporate developments that could provide direction to the market in the coming sessions.
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