KARACHI: Pakistan Stock Exchange remained under pressure for a second straight session on Tuesday as investors continued reacting to the State Bank of Pakistan’s unexpected 100 basis points increase in the policy rate, with volatility persisting throughout the day before the market closed lower amid broad-based selling in heavyweight sectors.
The benchmark KSE-100 Index closed at 168,412.23 points, down 1,085.12 points or 0.64 percent from the previous close of 169,497.36 points. During the session, the index touched an intraday high of 169,313.91 points and a low of 168,170.74 points, reflecting continued choppy trade.
BRIndex100 also closed lower at 18,590.19 points, down 143.62 points or 0.77 percent on hefty turnover of 998.99 million shares, while BRIndex30 shed 741.55 points or 1.09 percent to close at 66,987.90 points with volume of 563.19 million shares, mirroring weakness in broader large-cap names.
Ali Najib, Deputy Head of Trading at Arif Habib Limited, noted that KSE-100 remained volatile in both directions but ultimately settled in the red as higher borrowing cost concerns, cautious investor positioning and pressure in blue chips kept sentiment subdued.
He further noted that UBL, FFC, PPL, LUCK and NBP collectively eroded 692 points from the benchmark, although ENGROH, PAKT, POL, CNERGY and BOP lent partial support by adding 242 points. He said near-term pressure may persist after the surprise rate hike, though any dip may offer buying opportunities amid attractive valuations and supportive medium-term fundamentals.
Trading activity, however, surged sharply, suggesting active repositioning despite bearish undertones. Ready market turnover climbed to 1.19 billion shares from 780.23 million shares a day earlier, while traded value improved to Rs34.54 billion against Rs33.42 billion. Despite higher activity, market capitalization declined by Rs100.92 billion to Rs18.647 trillion from Rs18.748 trillion, reflecting erosion in equity values.
Market breadth remained distinctly negative and reflected the selling bias across the board. In the ready market, 168 companies advanced, 284 declined and 30 remained unchanged out of 482 traded companies.
Among ready market volume leaders, Cnergyico PK dominated activity with 265.58 million shares, closing at Rs8.73, followed by Yousuf Weaving with 92.44 million shares at Rs7.93, Loads Limited with 60.11 million shares at Rs14.78 and F. Nat. Equities with 59.59 million shares at Rs1.44.
Among gainers, Unilever Pakistan Foods surged Rs123.50 to close at Rs26,380.00 while Pakistan Tobacco added Rs114.23 to settle at Rs1,454.79. On the losing side, PIA Holding Company Limited B dropped Rs161.33 to Rs17,602.67 while Sazgar Engineering shed Rs58.50 to close at Rs2,030.45.
Sectoral indices largely remained under pressure. BR Automobile Assembler Index fell 118.91 points or 0.46 percent to 25,570.90 points on turnover of 2.16 million shares. BR Cement Index declined 163.62 points or 1.45 percent to 11,119.77 points with 25.72 million shares traded.
BR Commercial Banks Index shed 367.39 points or 0.63 percent to close at 57,601.02 points on volume of 79.86 million shares. BR Power Generation and Distribution Index slipped 272.24 points or 0.95 percent to 28,420.21 points on turnover of 76.59 million shares.
BR Oil and Gas Index dropped 76.65 points or 0.52 percent to 14,775.09 points with 39.41 million shares traded, while BR Tech and Communication Index lost 21.57 points or 0.59 percent to 3,639.89 points on turnover of 117.76 million shares.
Analysts said the session reflected continued digestion of the surprise monetary tightening move, with higher rates weighing particularly on leveraged and rate-sensitive sectors. Pressure in banking, cement, power and oil-linked stocks overshadowed support from selective value buying in a few exploration and refinery names.
Ali Najib noted that despite short-term stress, valuations in several index heavyweights remain compelling, which could encourage selective accumulation on weakness.
Copyright Business Recorder, 2026
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