KARACHI: Trading on the Pakistan Stock Exchange was highly volatile on Tuesday as early optimism faded, pushing the benchmark KSE-100 index into negative territory by the closing bell.
The market opened on a strong footing, rising over 1,200 points in the early hours amid investor optimism about the direction of economic policy and expectations of fiscal consolidation. However, profit-taking in heavyweight sectors erased the gains later in the session, leading the index to close down 294.05 points, or 0.17 percent, at 170,447.29 points.
Market data showed sharp swings in the intraday, with the index touching a low of 170,191.98 before touching a high of 171,922.60, reflecting cautious investor sentiment ahead of upcoming economic stimulus measures. Overall activity remained strong, with 1.17 billion shares traded in the All Share Index.
Sector-wise, pressure came mainly from oil and gas exploration, fertilizer, cement, and technology stocks, while commercial banks offered some stability, supported by selective institutional buying.
According to market analysts, the late-session correction reflects short-term profit booking rather than a change in trend. Experts believe that continued policy clarification and improving macro indicators can keep the broader market resilient, although volatility is expected to persist in the near term.
