Trading volume stands at 284,031,410 shares with a total traded value of Rs12,022,767,811
Overall market participation was strong, as 1,066 million shares were traded with a total value of Rs. 49 billion. KEL led the volume chart, with 195.8 million shares..Photo: Express
KARACHI:
In a volatile trading session on Tuesday, the Pakistan Stock Exchange (PSX) witnessed a mix of caution and optimism, as the morning session saw a resurgence of buying interest that propelled the benchmark KSE-100 Index up by over 900 points. However, the momentum was short-lived, and the index dropped by 665 points.
As trading progressed, investors opted for profit-taking, erasing the early gains and pushing the Index into the red zone. By 2:12pm, the KSE-100 was hovering at 169,840.75, marking a significant decline of 665.56 points.
According to PSX data, the trading volume stood at 284,031,410 shares with a total traded value of Rs 12,022,767,811.
Despite the optimistic start, global geopolitical tensions and lingering economic concerns continue to weigh on investor sentiment, leading to the current cautious atmosphere on the trading floor.
Read: PSX sheds 610 points in cautious trading
On Monday, investors offloaded their holdings at PSX over uncertainty surrounding US-Iran negotiations for a peace deal, which pulled the KSE-100 Index down by 610 points.
Trading commenced on a negative note, with the benchmark index sliding 1,433.57 points, or 0.84%, within minutes to hit 169,682.25 at 9:34 am. Selling was witnessed in key sectors including cement, commercial banks, oil and gas exploration, oil marketing and power generation, which kept the market under pressure during early hours.
The bourse briefly entered positive territory around midday, supported by value buying and improved sentiment. However, stock selling in heavyweight sectors erased gains, dragging the index back into the red.
At close, the KSE-100 recorded a dip of 609.51 points, or 0.36%, to 170,506.31 amid volatile trading as investors remained cautious over geopolitical developments and profit-taking.
Arif Habib Limited (AHL) analyst Ali Najib said that the PSX witnessed a range-bound session, with the KSE-100 closing at 170,506, down 610 points (-0.36%). Momentum stayed subdued due to geopolitical worries as aggressive rhetoric from both the US and Iranian officials heightened concerns over further escalation in the region.
