Karachi – The Pakistan Stock Exchange (PSX) extended its losing streak on Tuesday as the benchmark KSE-100 index closed sharply lower, falling 1,590.09 points amid aggressive selling in heavyweight banking and energy sector stocks.
According to a market report released by the PSX, the KSE-100 index opened at 170,758.15 points and touched an intraday high of 171,571.56 before falling to a low of 168,823.32. The benchmark eventually settled at 168,916.22 points, down 0.93%.
Market participants said profit-taking in key blue-chip counters and cautious investor sentiments led to the decline despite early session gains. Banking and collective stocks remained under pressure throughout the trading session.
Trading activity remained healthy as the index turnover stood at 424.80 million shares, indicating continued investor participation despite the bearish trend.
PSX data further showed that the market’s fiscal year-to-date (FYTD) return remained positive at 34.46%, while the calendar year-to-date (CYTD) performance fell to negative 2.95%.
Among the major draggers of the index, UBL led the decline with a negative contribution of 181.64 points, followed by Lucky Cement (-120.26), Engro Holdings (-119.52), HBL (-89.81), and HUBCO (-57.12).
On the other hand, TRG Pakistan provided some support to the market by adding 75.70 positive points. MEBL added 24.38 points, while Airlink, Cnergyico, and Millat Tractors were also among the notable gainers.
Analysts believe that investors are keeping a close eye on economic growth, corporate earnings, and regional market trends, which continue to influence the trading direction on the Pakistan Stock Exchange.
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