The Pakistan Stock Exchange (PSX) experienced a moderate rise on Tuesday, with the benchmark KSE-100 index closing up by 222 points, settling at 40,665 points compared to the previous close of 40,443 points.
Analysts from Arif Habib Limited observed that the market demonstrated limited fluctuations, oscillating between a low of -184 points and a peak of +222 points throughout the trading day. Despite a slower activity level compared to Monday, the market managed a positive close amid cautious buying sentiment.
Market participants remained wary of a potential market correction, a concern that has been looming since last week. This cautious approach influenced trading behaviors, contributing to a tighter range of stock price movements.
The day saw varied sector performances, with notable selling pressure in the Autos, Steel, Cement, and Banking sectors. Conversely, the Vanaspati sector dominated trading volumes, recording approximately 30.5 million shares, closely followed by the Chemical sector with 30.2 million shares and the Cement sector with 29.3 million shares.
Top individual stock performances were noted in UNITY, leading with 30.5 million shares traded, followed by FFL with 19.3 million shares and KEL with 15.8 million shares.
In terms of sector contributions to the index’s performance, Cement led the gains adding 51 points to the index. This was supported by contributions from the Pharma sector, which added 27 points, Banks at 25 points, Oil & Gas Marketing Companies (O&GMCs) also at 25 points, and Exploration & Production (E&P) companies contributing 20 points.
Trading volume for the day was reported at 254.6 million shares, a decrease of 21% from the previous session’s 320.1 million shares. Average traded value also declined by 19%, totaling US$59.5 million compared to US$73.5 million on Monday.
Significant volume contributors for the day were UNITY, FFL, KEL, LOTCHEM, and AGL, together accounting for 34% of total volumes.
On the positive side, stocks such as LUCK, POL, UBL, NESTLE, and PSO made significant positive contributions to the index, with points contributions of 29, 27, 21, 19, and 13 respectively. However, stocks like OGDC, HUBC, PSMC, NATF, and BAFL faced declines, detracting 10, 10, 7, 6, and 5 points from the index, respectively.
Investors continue to monitor economic indicators and corporate news closely, with hopes that stability will return to market dynamics, encouraging more robust trading activities in upcoming sessions.