Karachi: The benchmark KSE-100 Index closed in negative territory on Tuesday as selling pressure in heavyweight stocks dragged the market lower at the Pakistan Stock Exchange (PSX). The index settled at 164,626.29 points, posting a decline of 1,632.25 points or 0.98 percent compared to the previous session.
The trading day began on a positive note, with the index opening at 167,607.55 points. Early momentum pushed the benchmark to an intraday high of 168,191.65. However, profit-taking in key banking and energy stocks reversed gains, sending the index down to an intraday low of 164,229.36 before closing near that level.
Total traded volume among index constituents reached 351.26 million shares, reflecting active investor participation despite the bearish close. Market analysts described the session as volatile, driven largely by movement in a few heavyweight stocks.
Among the biggest draggers, United Bank Limited (UBL) shaved off 339.30 points from the index. Engro Holdings followed with a negative contribution of 228.93 points, while Pakistan Petroleum Limited (PPL) erased 137.96 points. Lucky Cement and DG Khan Cement also added pressure, contributing negative 113.82 and 107.82 points respectively.
On the positive side, National Bank of Pakistan (NBP) emerged as the top performer, adding 191.51 points. MCB Bank contributed 137.93 points, while Bank Alfalah (BAFL) supported the index with 123.18 points. FATIMA and HBL also posted moderate gains.
From a broader perspective, the KSE-100 remains up 31.04 percent on a fiscal year-to-date (FYTD) basis, highlighting strong long-term performance. However, the calendar year-to-date (CYTD) return stands at negative 5.42 percent, indicating short-term market volatility in early 2026.
Analysts believe that investor sentiment is being shaped by sector-specific developments and global economic trends. The banking sector showed resilience, but energy and cement stocks faced pressure due to cautious investor outlook.
Technical experts suggest that immediate support lies around the 164,000 level, while resistance is visible near 168,000 points. Investors are advised to focus on fundamentals and maintain diversified portfolios amid ongoing volatility.