UBL, LUCK, ENGROH, OGDC and PPL weigh heavily on benchmark amid broad-based selling.

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a highly volatile trading session on Tuesday as broad-based profit-taking erased early gains, dragging the benchmark KSE-100 Index lower despite a positive start.

The KSE-100 Index settled at 177,083 points, shedding 1,116 points, or 0.63%, after investors booked profits across key sectors during the latter half of the session.

The market opened on a firm footing, with buying interest lifting the benchmark to an intraday high of 178,768 points. However, selling pressure intensified as the session progressed, causing the index to reverse its gains and touch an intraday low of 177,043 points before closing near the day’s lowest level.

Market analysts attributed the decline to widespread profit-taking following recent gains, as investors adopted a cautious approach amid prevailing market uncertainty.

Among index-heavy stocks, United Bank Limited (UBL), Lucky Cement (LUCK), Engro Holdings (ENGROH), Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) emerged as the biggest drags on the benchmark, collectively wiping out around 580 points from the KSE-100 Index.

Trading activity remained healthy despite the decline. Total traded volume stood at 711.2 million shares, while the total traded value reached approximately Rs25.87 billion, reflecting continued investor participation.

The session highlighted the market’s volatile nature, with investors balancing profit-taking against selective buying interest. Analysts believe market direction in the coming sessions will largely depend on corporate earnings announcements, macroeconomic developments and investor sentiment toward regional and global markets.