Pakistan Stock Exchange sees broad-based selling as investor sentiment weakens, with trading value reaching Rs50.7 billion.
KARACHI: The Pakistan Stock Exchange (PSX) witnessed a sharp sell-off on Tuesday, with the benchmark KSE-100 Index declining 2,547 points, or 1.41%, amid heightened political uncertainty and rising international oil prices.
The KSE-100 Index closed at 177,955 points, compared with the previous session’s close. During the trading session, the benchmark touched an intraday high of 180,602 points before falling to a low of 177,866 points, reflecting significant volatility and broad-based selling pressure.
Investor sentiment remained weak throughout the session as political uncertainty weighed on market confidence. The increase in international oil prices also prompted investors to reduce their exposure across major sectors, putting additional pressure on the benchmark index.
Among the major index constituents, FFC, MEBL, ENGROH, UBL and OGDC emerged as the biggest drags on the KSE-100 Index. The five stocks collectively erased approximately 928 points from the benchmark, contributing significantly to the market’s overall decline.
Despite the sharp fall in the index, trading activity remained strong during the session. Total market volume reached 1.039 billion shares, highlighting substantial investor participation amid heightened volatility.
The total traded value stood at approximately Rs50.7 billion, indicating increased activity compared with recent sessions as investors actively adjusted their positions in response to prevailing economic and political developments.
The sharp decline comes as the market remains sensitive to developments affecting Pakistan’s economic outlook, particularly movements in international oil prices and domestic political conditions.
Market participants are likely to closely monitor geopolitical and political developments, global commodity prices and economic indicators in the coming sessions to assess the direction of investor sentiment.
The latest sell-off highlights the vulnerability of the local equity market to external and domestic uncertainties, with investors adopting a cautious approach amid increased volatility.