PSX turns negative as KSE-100 falls over 250 points

The Pakistan Stock Exchange (PSX) on Tuesday had a mixed and unstable trading day. The KSE-100 Index started strong, gaining over 600 points early in the session and reaching 122,891.61 points.

However, due to selling pressure later in the day, the market lost momentum and the index fell by 254.31 points, closing at 121,971.04.

The total number of shares traded during the day was around 202 million, which was much lower than the 1.22 billion shares traded on the previous day. The total value of these trades was Rs 15.89 billion, also down from Rs 25.75 billion the day before.

Out of 473 companies that took part in the trading session, 193 companies saw an increase in their share prices, 244 experienced a decline, and 36 remained unchanged.

Selling was mostly seen in key sectors such as automobile assemblers, cement, commercial banks, oil and gas exploration, oil marketing companies (OMCs), power generation, and refineries. Some of the major stocks that faced pressure included HUBCO, ARL, PSO, SNGPL, MARI, POL, and PPL.

Just a day before, on Monday, the stock market had shown a positive trend. The KSE-100 Index had increased by 81.79 points, closing at 122,225.36 points. However, Tuesday’s session turned out to be volatile as investors reacted to changing market conditions.

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