KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bearish session on Tuesday, with the benchmark KSE-100 Index shedding 793 points (0.47%) to close at 166,553.28, as investors opted for profit-taking amid mixed corporate earnings and cautious sentiment ahead of key economic data.
Trading opened on a positive note, with the KSE-100 hitting an intraday high of 168,163 points, but selling pressure in key sectors — including fertilizer, banking, and cement — pushed the index down to a low of 166,230 points before partial recovery.
Overall, 203 companies closed higher, 232 declined, while 41 remained unchanged out of a total 476 traded scrips in the ready market.
The total market turnover stood at 1.56 billion shares, down from 1.82 billion in the previous session, while the traded value slipped to Rs. 55.06 billion from Rs. 56.82 billion. The market capitalization declined by Rs. 55 billion, settling at Rs. 19.21 trillion.
The most active stocks were:
- K-Electric Ltd. — 241 million shares, down 30 paisas to close at Rs. 6.21.
- WorldCall Telecom — 163 million shares, up 3 paisas to Rs. 2.08.
- Bank of Punjab — 118 million shares, gaining 86 paisas to Rs. 40.59.
- Telecard Ltd. — 108 million shares, up Rs. 1.00 to Rs. 13.14.
- Pakistan International Bulk Terminal — 78 million shares, marginally lower at Rs. 16.07.
Other notable gainers included Treet Corporation, PTCL, and First National Equities, all recording strong volumes.
Major Movers
- Top Gainers: PIA Holding Company LimitedB surged by Rs. 1,338.35 to close at 25,998.80, followed by Khyber Textile Mills up Rs. 183.66 to Rs. 2,029.10.
- Top Losers: Unilever Pakistan Foods fell by Rs. 200 to 29,700, while Rafhan Maize Products dropped Rs. 143.01 to Rs. 9,462.84.
Futures Market Trends
In the futures market, the BOP-OCTB, TELE-OCT, and WTL-OCT contracts dominated trading, with a combined turnover of more than 120 million shares. The futures turnover stood at 370 million shares worth Rs. 14.25 billion, showing a decline from the previous session’s 421 million shares valued at Rs. 15.34 billion.
Analysts said the market’s correction was expected after a sustained rally, adding that investors were likely to remain cautious until clarity emerged on monetary policy direction and corporate earnings outlook.
“The market is undergoing healthy consolidation. Investors are waiting for cues from the upcoming inflation data and corporate results before taking fresh positions,” a brokerage analyst commented.
