KARACHI: Pakistan Stock Exchange (PSX) witnessed a sharp and broad-based sell-off on Tuesday as heavy institutional offloading, profit-taking, and rollover pressure drove the index into a steep decline.
The index plunged by 2,062.78 points, or 1.27 percent, to close at 160,101.03, compared with 162,163.81 in the previous session. Index oscillated between an intraday high of 163,380.67 points and a low of 159,805.35 points, before settling near the day’s bottom.
On Tuesday, BRIndex100 closed at 16,736.68, down 282.24 points or 1.66 percent from the previous close, with total volume recorded at 825.81 million shares. Similarly, BRIndex30 settled at 52,956.91, reflecting a loss of 1,213.6 points, or 2.24 percent, with total volume reaching 529.79 million shares.
According to Topline Securities, the market remained volatile throughout the session, showing a sharp shift in momentum. The brokerage noted that the KSE-100 index opened on a strong note, with bulls lifting the market in the first half; however, the trend reversed later as bears took control, dragging the benchmark down by more than 2,000 points.
The mixed performance, it added, was primarily due to rollover pressure and a flurry of corporate earnings announcements, which prompted cautious investor behavior and profit-taking.
Topline further highlighted that the day’s losses were mainly led by Hub Power Company (HUBC), Meezan Bank (MEBL), Habib Bank (HBL), Oil and Gas Development Company (OGDC), and United Bank (UBL), which collectively erased 585 points from the index. Meanwhile, Lucky Cement (LUCK), Pakistan Services Ltd. (PSEL), Service Industries (SRVI), Bank Al Habib (BAHL), and TRG Pakistan Ltd. offered partial support, contributing 171 points to the benchmark.
The broader market exhibited similar weakness, with 476 companies active during the day, of which 113 advanced, 324 declined, and 39 remained unchanged.
The market capitalization shrank by Rs239 billion, falling to Rs18.46 trillion from Rs18.70 trillion recorded the previous day. Despite the slump, the ready market turnover increased to 1.018 billion shares, compared with 1.006 billion shares on Monday, while the traded value improved to Rs36.94 billion from Rs34.82 billion.
Trading remained concentrated in low-priced and high-volume stocks. K-Electric Ltd. topped the volume chart with 94.59 million shares, closing down at Rs5.27. WorldCall Telecom Ltd. followed with 83.31 million shares, finishing lower at Rs1.79. Bank of Punjab (BOP) recorded 60.38 million shares, closing slightly lower at Rs37.16.
Among top gainers, Otsuka Pakistan Ltd. surged Rs30.83 to close at Rs347.99, while Service Industries Ltd. rose Rs23.99 to finish at Rs1,442.43. On the losing side, PIA Holding Company Ltd. ‘B’ fell sharply by Rs543.93 to close at Rs24,000.01, and Khyber Textile Mills Ltd. dropped Rs123.79 to settle at Rs1,847.71.
The BR Automobile Assembler Index settled at 24,471.25, registering a decline of 223.98 points, or 0.91 percent, with a total turnover of 2.66 million shares. The BR Cement Index closed slightly lower at 12,655.60, down by 10.84 points, or 0.09 percent, with total trading volume standing at 35.68 million shares.
The BR Commercial Banks Index fell sharply to 48,665.19, losing 551.36 points, or 1.12 percent, on a total turnover of 123 million shares. The BR Power Generation and Distribution Index ended at 26,556.41, down 753.72 points, or 2.76 percent, with a total turnover of 110.23 million shares.
The BR Oil and Gas Index also declined to 13,802.23, posting a loss of 205.38 points, or 1.47 percent, with 77.65 million shares traded. Meanwhile, the BR Technology and Communication Index recorded a fall of 61.56 points, or 1.58 percent, to close at 3,836.04, with total turnover amounting to 201.18 million shares.
Market observers believe the downward trend is likely to continue until the futures rollover concludes, with investors expected to remain cautious amid lack of fresh triggers.
Copyright Business Recorder, 2025
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