Pakistan stocks endured a volatile session on Tuesday with the benchmark KSE-100 Index seeing all its intra-day gains erased as volume and value of shares traded improved from the last session.

The market opened on a positive note over the State Bank of Pakistan's (SBP) Monetary Policy Committee (MPC) decision to keep the policy rate unchanged at 9.75%, allowing the benchmark index to accumulate 331.52 points to record an intra-day high of 45,255.92.

However, it failed to sustain the gains as profit-taking meant that at close on Tuesday, the KSE-100 finished at 44,887.77, a loss of 36.14 points or 0.08%.

On the economic front, Pakistan issued $1 billion Islamic sukuk in the international market at 7.95% interest rate for a period of seven years.

The inflow would boost the country’s foreign exchange reserves and help arrest the rupee slide. To recall, the government had budgeted a total of $3.5 billion debt through international bonds during the current fiscal year.

KSE-100 finishes lower ahead of monetary policy announcement

On the corporate front, Secure Logistics Group Limited (SLG) applied for listing at the PSX, as it seeks to raise Rs1.5 billion through an Initial Public Offering (IPO).

Volumes increased, clocking in at 207.04 million on the all-share index, up from 160.21 million on Monday. The value of shares traded increased substantially to Rs8.12 billion, up from Rs5.74 billion a day ago.

Waves Singer was the volume leader with 20.03 million shares, followed by TRG Pakistan Limited with 11.11 million shares, and Treet Corporation with 9.38 million shares.

Shares of 333 companies were traded on Tuesday, of which 148 registered an increase, 161 recorded a fall, and 24 remained unchanged.