The Pakistan Stock Exchange (PSX) gave up its early gains on Tuesday as investors booked profits, leaving the benchmark KSE-100 Index little changed by late morning after a strong start to the session.
The market opened on a positive note, with the KSE-100 climbing 568.81 points to 178,768.83 by around 9:32am. However, the momentum faded as selling pressure emerged, pulling the index into negative territory. By 11:26am, it had dropped nearly 199 points to 178,000.21.
At 11:55am, the benchmark index was trading at 178,178.34, down just 21.68 points, or 0.01 percent, from the previous close of 178,200.02. During the session, the market moved between an intraday high of 178,768.83 and a low of 177,997.96, while traded volume had crossed 157.7 million shares.
Among the most actively traded stocks, Sui Southern Gas Company (SSGC), Pakistan International Bulk Terminal (PIBTL), TPL Properties (TPLP), Cnergyico (CNERGY), Pakistan Refinery Limited (PRL) and WorldCall Telecom (WTL) attracted strong investor interest.
Within the KSE-100 index, SSGC stood out as one of the strongest performers, jumping more than 6 percent after extending its early gains. Pakistan Aluminium Beverage Cans (PABC) rose almost 4 percent, while Ghani Global Holdings (GHGL) added over 3 percent. Sui Northern Gas Pipelines (SNGPL) also traded firmly higher with a gain of nearly 3 percent. Pakistan State Oil (PSO), MCB Bank (MEBL), HBL and Attock Petroleum (APL) remained in positive territory, lending support to the benchmark.
On the losing side, Mehmood Textile Mills (MEHT) slumped 10 percent, making it the biggest drag among index constituents. Investors also sold banking, energy and cement shares, with Askari Bank (AKBL), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), DG Khan Cement (DGKC), Engro Fertilisers (EFERT), Fauji Cement (FCCL) and Air Link Communication (AIRLINK) trading lower.
Despite the late-morning weakness, the benchmark index remains up 2.37 percent since the start of the year and has gained more than 25 percent over the past 12 months.
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