The Pakistan Stock Exchange (PSX) saw another volatile session, with the KSE-100 Index closing at 166,173.75, down 1,578.66 points or 0.94%. The index hit an intraday high of 168,518.97 but fell to 165,997.21, nearly matching Monday’s low. This marks the second straight day of declines, following a 0.73% drop.
Profit-taking gripped investors amid economic concerns. State Bank of Pakistan (SBP) Governor Jameel Ahmad noted stable inflation but tied future rate cuts to the impacts of the floods and an ongoing IMF review, according to Bloomberg. Floods devastated agriculture, threatening food security and exports. Additionally, a widening trade deficit and revenue shortfalls fuel caution.
Read: Pakistan’s KSE-100 Index Drops 0.73% as Investors Book Profits
Arif Habib Limited (AHL) highlighted 166,000 as a key support level. “The index must regain 167,200 to target 170,000,” AHL stated. Without strong catalysts, the market remains in a state of consolidation.
Of 487 traded companies, 183 rose, 267 fell, and 37 stayed unchanged. Habib Bank (+3.56%), Engro Fertiliser (+1.54%), and Askari Bank (+3.85%) lifted the index, while Hub Power (-3.75%), Engro Holdings (-2.7%), and Lucky Cement (-3.09%) dragged it down. Pakistan Telecommunication Company led the volumes with 189.7 million shares traded, closing at Rs 31.14, down Rs 0.27.
Trading volume decreased to Rs1.26 billion from Rs1.27 billion, with a share value of Rs54.2 billion.
