The Pakistan Stock Exchange opened Tuesday on a weak note, with heavy selling dragging the benchmark KSE-100 Index sharply lower in early trade. Within minutes of the opening bell, the index had dropped more than 1,700 points, reflecting broad-based pressure across key sectors.
By 9:40am, the index was recorded at 149,481.28, down 1,726.53 points, showing a decline of 1.14 percent. Investors were seen offloading shares in major segments such as automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration, oil marketing companies, power generation and refineries.
Large-cap stocks remained under pressure during the early session, with notable names including Attock Refinery, Hub Power, Mari Energies, OGDC, Pakistan Oilfields, PPL, PSO, Fauji Fertiliser, HBL, MCB, NBP and UBL trading in negative territory.
However, the market showed some recovery later in the day as selling pressure eased. By 2:34pm, the KSE-100 Index had improved to 151,007.57, narrowing its losses to 200.24 points, or 0.13 percent. During the session, the index moved within a range of 149,129.41 to 151,594.55 points.
Trading activity remained steady, with volumes crossing 168 million shares. Despite the day’s volatility, the market still shows a one-year gain of over 31 percent, though it remains down more than 13 percent since the start of the year.
Among actively traded stocks, K-Electric, Cnergyico and Sui Southern Gas saw notable activity, while TRG Pakistan and Pak Refinery also remained in focus. On the gaining side, several stocks posted strong increases, with some hitting their upper limits. At the same time, a number of shares came under sharp selling pressure and recorded steep declines.
External pressures weigh on sentiment
Investor mood remained cautious amid concerns over Pakistan’s external financing needs. Reports suggest the country is exploring fresh funding options from allies such as China and Saudi Arabia, as pressure builds on foreign exchange reserves following plans to repay around $3.5 billion to the UAE.
The local market also took cues from global trends. Internationally, equities remained uncertain as tensions in the Middle East continued to weigh on sentiment. Oil prices stayed elevated near $110 per barrel, driven by supply concerns after disruptions in a key shipping route.
On Monday, the PSX had ended higher after a volatile session, with the benchmark index gaining over 800 points as late buying helped lift the market. However, the lack of clear direction in global markets and ongoing geopolitical risks continue to keep investors cautious.
Read next: PSX swings back to gains after early losses
