KARACHI: The Pakistan Stock Exchange (PSX) closed lower on Tuesday as the KSE-100 index fell 508.69 points, or 0.29 per cent, to settle at 176,466.99, compared with the previous close of 176,975.68. Volatility was witnessed in the market following an increase in oil prices.
The index touched an intraday high of 177,800.28 and a low of 176,375.01 during the session. The KSE-30 index shed 70.29 points to close at 52,632.43.
Ready market turnover fell 16.31 per cent to 784.47 million shares from 937.27 million shares in the previous session. Traded value declined 4.40 per cent to Rs37.41 billion from Rs39.13 billion, while market capitalisation slipped 0.24 per cent to Rs19.78 trillion from Rs19.83 trillion.
Market breadth remained negative, with 174 scrips advancing against 292 declining and 32 remaining unchanged. Among the top gainers, PIA Holding Company Limited rose Rs102 to close at Rs17,300, while Buxly Paints Limited added Rs84.25 to close at Rs926.77. On the downside, The Thal Industries Corporation Limited fell Rs133.94 to close at Rs1,205.46, and Hoechst Pakistan Limited declined Rs37.17 to close at Rs4,042.76.
According to Topline Sales Desk, a volatile session was witnessed at the local bourse, with the market juggling between gains and losses amid heightened uncertainty stemming from the ongoing US-Iran conflict and its impact on global oil prices.
The KSE-100 Index initially climbed to an intraday high of 824 points before reversing sharply to an intraday low of 600 points, reflecting elevated risk aversion and cautious investor sentiment.
Meanwhile, the refinery sector remained the talk of the town, attracting significant investor interest and witnessing a heavy surge in traded volumes. Market chatter suggests that five refineries could sign their long-awaited upgradation agreements this week, further fuelling speculation and buying interest across the sector. Investors remained closely focused on the sector, making refineries one of the hottest themes at the local bourse.
On the positive side, SYS, ENGROH, EFERT, OGDC and AGP were among the key contributors, collectively adding approximately 359 points to the KSE-100 Index. Conversely, MEBL, MCB, BAFL, and LUCK emerged as major laggards, collectively shaving approximately 294 points off the index.
Cnergyico Pakistan led ready market turnover with 191.73 million shares, declining 46 paisas to close at Rs15, followed by Pak Refinery with 58.15 million shares, gaining 46 paisas to close at Rs104.88. Other most-traded stocks were WorldCall Telecom, Pak International Bulk Terminal, Unity Foods, TPL Corp, BO Punjab, Trust Brokerage, Waves Home Appliances and Lotte Chemical. In the futures market, 303 contracts were traded, with 98 increasing in value, 203 declining and 2 unchanged.
