KARACHI: The Pakistan Stock Exchange (PSX) experienced a volatile trading session on Tuesday as strong gains recorded in early trading quickly disappeared, with the benchmark KSE-100 Index ending the day more than 1,100 points lower. Widespread profit-taking in major sectors, combined with cautious investor sentiment influenced by global market uncertainty, weighed heavily on the market. The benchmark KSE-100 Index initially climbed to an intraday high of 178,768.83 points, reflecting optimism among investors during the opening hours. However, the momentum proved short-lived as selling pressure gradually intensified across the market. By the close of trading, the index had fallen to 177,083.22 points, registering a decline of 1,116.80 points, or 0.63%, after touching an intraday low of 177,043.10 points. Market participants attributed the sharp reversal to extensive profit-booking in several heavyweight sectors. Commercial banks, oil and gas exploration companies, cement manufacturers, investment firms, and fertiliser stocks all came under significant selling pressure, dragging the benchmark index into negative territory despite its promising start. Investor confidence also remained subdued due to mixed developments in international financial markets. Asian stock markets traded without a clear direction as investors balanced encouraging corporate earnings from the United States against continuing geopolitical tensions. At the same time, international oil prices climbed by more than two percent as uncertainty surrounding diplomatic efforts to ease tensions between the United States and Iran persisted. Concerns over potential disruptions to global oil supplies through major shipping routes also contributed to market caution. Commenting on the day’s performance, Ahmed Sheraz, an equity trader at KTrade Securities, said the KSE-100 Index remained under pressure throughout the session because the market lacked fresh positive catalysts capable of sustaining its recent upward momentum. According to him, the absence of encouraging economic or corporate developments prompted investors to lock in profits after recent gains. Sheraz noted that selling activity was widespread across key sectors, particularly banking, oil and gas, cement, investment companies, and fertilisers. He added that despite Brent crude oil trading between $84 and $86 per barrel, investors largely preferred to stay on the sidelines while waiting for stronger economic indicators and corporate earnings announcements before making new investment decisions. Looking ahead, Sheraz believes the stock market is likely to remain highly sensitive to news flow. Upcoming corporate earnings reports, macroeconomic indicators, and foreign investment activity are expected to play a decisive role in shaping market sentiment over the coming weeks. He also identified the 176,500 to 177,000-point range as an important technical support level for the benchmark index, suggesting that maintaining this level could help stabilise the market. Trading activity slowed compared with the previous session. Total market volume declined to 711.2 million shares, down from 785.3 million shares recorded on Monday. Meanwhile, the total value of traded shares stood at Rs25.8 billion. A total of 495 companiesparticipated in trading during the session. Among them, 161 stocks closed higher, 295 stocks ended in negative territory, while 39 stocks remained unchanged. Pakistan International Bulk Terminal emerged as the session’s most actively traded stock, with approximately 89.8 million shares changing hands. The company’s share price declined by Rs0.34, closing the session at Rs16.74.
