KARACHI: The Pakistan Stock Exchange (PSX) experienced a volatile session on Tuesday, with the KSE-100 index swinging sharply before closing above 150,000 points.
The market opened strongly, with buying interest pushing the index to an intra-day high of 151,503.47. However, profit-taking and selling pressure dragged it to a low of 148,509.05, reflecting investor caution. By mid-morning, the index was trading at 149,861.50, showing a positive undertone amid volatility.
Despite fluctuations, selective buying in blue-chip stocks helped the PSX recover. By the close, the KSE-100 index gained 837.50 points, or 0.56%, settling at 150,016.16. Analysts noted that positive cues from US and Asian markets supported the recovery.
Trading volumes remained modest at 145 million shares, indicating typical pre-Eid softness as investors trimmed positions. Market participants largely stayed on the sidelines ahead of the holidays, suggesting that gains were driven mainly by institutional flows.
Gains at the PSX were led by heavyweight sectors such as commercial banks, oil & gas, power, and investment companies. Key contributors included MCB, UBL, Hub Power, Pakistan Petroleum, Engro Holdings, and Pakistan State Oil. Meanwhile, stocks like HBL, NBP, and DG Khan Cement limited the overall upside.
Market analysts expect the PSX to remain range-bound in the near term. Elevated oil prices, with Brent crude above $100 per barrel, continue to pose concerns. Strategy recommendations focus on banks, supported by rising T-bill yields, along with selective exposure to oil & gas and high dividend-yielding stocks. Investors are advised to avoid speculative and cyclical plays until clearer market direction emerges.
In other news read more about PSX Shows Volatility as Global Oil Prices and Middle East Tensions Impact Market
Overall, the PSX displayed resilience despite a volatile session, reflecting cautious optimism among investors ahead of the Eid holidays. Selective institutional buying helped stabilize the market, even as broader uncertainties persist in global and domestic economic conditions.
