PSX falls as investors opt for profit-taking

A volatile session marked trading on the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark KSE-100 struggling to maintain early momentum.

The market opened on a positive note and managed to push the index to the day’s high of 169,289. However, optimism faded steadily as the session progressed and a round of speculation in the final hours dragged the index into negative territory. The index hit an intraday low of 167,446 shortly before the end of trading.

The KSE-100 closed at 167,642.28, down 419.92 points or 0.25%. Among major news, Pakistan recorded a trade deficit of $2.9 billion in November, which weighed on investor confidence and encouraged cautious moves. The widening external gap remains a key concern for market participants, who are now more inclined to lock in profits rather than extend exposure. KTrade Securities, in its market wrap, wrote that the PSX posted gains in the second half following its recent strong run. As a result, the KSE-100 slipped 420 points. Trading remained largely bound, with pressure coming from Fauji Fertiliser, Hub Power, Pakistan Petroleum, Engro, Systems Ltd and Oil & Gas Development Company, it said.

Lucky Cement bucked the trend along with NBP, Bestway Cement and Faysal Bank. Market participation remained steady, with All-Share Index volumes reaching 776 million. Looking ahead, the IMF board meeting on December 8 and the expected loan tranche release will be the key drivers, while regional geopolitical changes could also affect near-term dynamics, KTrade concluded.

The KSE-100 index closed at 167,642, down 420 points, after early session gains faded amid notable gains, JS Global analyst Mubashir Anis Naviwala commented. Trading remained elevated with 776 million shares changing hands, mainly due to high volumes in WorldCall Telecom, K-Electric, First National Equities, Pakistan International Bulk Terminal and The Bank of Punjab.

Performance at the sector level was mixed. Banking and cement stocks provided limited support, while fertilizer and energy stocks weighed on the index, he said, adding that the market traded in a narrow range, reflecting investor caution near recent highs.

In its review, Topline Securities said that after several consecutive sessions of strong gains, the local stock market finally paused for breath as profit-taking dominated Tuesday’s trading activity. Investors opted to lock in gains at recent highs, guiding the index through a volatile session marked by rapid swings in sentiment.

The index fluctuated between an intraday high of 169,289 (+1,227 points) and a low of 167,446 (-616 points), highlighting a clear tug-of-war between opportunistic sellers and selective buyers. The market ended at 167,642, down 420 points.

Market share remained stable. Despite the mild pullback, the broader market tone remains constructive, with investors looking to upcoming catalysts that could shape momentum in the coming sessions, Topline noted. Total trading volumes rose to 775.5 million shares from Monday’s 735.5 million. The value of traded shares stood at Rs 37.5 billion.

Shares of 479 companies were traded. Of these, 182 jumped, 254 fell and 43 remained unchanged.

WorldCall Telecom was the volume leader with 169 million shares traded, down Rs 0.04 to close at Rs 1.80. It was followed by K-Electric with 40.6 million shares, losing Rs 0.05 to close at Rs 5.57 and First National Equities with 37.2 million shares, up Rs 1.85 to close at Rs 20.36. Foreign investors sold shares worth Rs 476 million, the National Clearing Company said.