Pakistan Stock Exchange (PSX) traded in positive territory on Tuesday, although much of the strong early momentum faded by midday as investors booked profits and adopted a cautious approach ahead of the Ashura holidays.
The benchmark KSE-100 Index started the session on a strong note, climbing more than 900 points during early trade. By around 9:34am, the index had reached an intraday high of 179,405.55 points, reflecting renewed buying interest across several major sectors.
However, the market later gave up most of those gains. By 12:59pm, the benchmark index was standing at 178,533.59 points, showing a modest increase of 61.73 points, or 0.03 percent, from the previous close. Trading activity remained healthy, with volume crossing 175 million shares during the session.
The market moved within a range of nearly 1,000 points during the day, touching a low of 178,410.12 points before recovering slightly. Despite recent fluctuations, the KSE-100 remains up 2.57 percent since the start of the year and has gained 53.69 percent over the past 12 months.
Buying interest was largely concentrated in cement, commercial banking, oil and gas exploration, oil marketing and power generation stocks. Major index movers including HUBCO, OGDC, POL, PPL, PSO, HBL, MCB and UBL traded higher, helping the benchmark remain in positive territory.
Among actively traded stocks, K-Electric, Sui Southern Gas Company, Pak-Qatar Investment and Ghani Chemical Industries attracted investor attention, while some pressure was seen in TPL Corp, TPL Properties and OBOY.
On the broader market, several stocks posted strong gains, with a number of counters hitting the upper trading limit. At the same time, some shares came under selling pressure, reflecting a mixed trading pattern despite the index remaining slightly positive.
The market’s performance followed Monday’s decline, when the KSE-100 Index lost 450.89 points as investors locked in profits after a strong rally in previous sessions.
Meanwhile, global markets presented a mixed picture. Most Asian stock markets weakened, while oil prices moved higher. Investors worldwide continued to assess the outlook for interest rates in the United States, where expectations of further monetary tightening have increased.
Separately, the PSX has announced that trading will remain suspended on June 25 and June 26 on account of Ashura holidays, in line with the federal government’s notification of public holidays across the country.
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