RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bearish session on Tuesday as the benchmark KSE-100 Index plunged by 718.51 points, closing at 118,971 points down from 119,689.63 points. The market remained under pressure throughout the day amid weak investor sentiment and prevailing economic concerns. The KSE-100 index recorded an intraday high of 119,900 points and a low of 118,527 points, reflecting limited upward momentum and persistent selling pressure. However, the total traded volume increased to 437 million shares from 425 million shares a day earlier.

On Tuesday, BRIndex100 opened at 12,785.75 points and finally closed at 12,706.18 points which was 79.57 points or 0.62 percent lower than previous close. Total volume at BRIndex100 was 354.74 million. Meanwhile, BRInedx30 also lost 161.41 points or 0.43 percent to settle at 37,621.48 points with a total volume of 179.380 million shares.

Market analysts attributed the decline to growing economic uncertainties, including downward revisions in Pakistan’s GDP growth forecasts by National Accounts Committee on Tuesday and concerns over inflationary trends. Global market signals and political developments also played a role in dampening investor confidence.

“The market remained range-bound but tilted to the downside as investors preferred to stay on the sidelines amid macroeconomic concerns,”an analyst said. However, despite the drop, no major panic-selling was observed in market, with trading confined within a relatively narrow band. Market participants now await upcoming policy announcements and corporate results for fresh triggers, he added.

The share trading value declined to Rs 20.81 billion from Rs 22.27 billion on Tuesday. Additionally, market capitalization dropped by approximately Rs 60 billion, settling at Rs 14.331 trillion. Among the 473 trading companies, 177 saw an increase in share value, while 232 experienced a decline, and 64 remained unchanged.

Major market players, including FFC, UBL, HBL, PPL, and ENGRO, collectively dragged the index down by 386 points.

At-Tahur Ltd topped the list with a turnover of 39.62 million shares, closing at Rs 49.69. Fauji Foods Ltd ranked second with turnovers of 30.26 million and closed at Rs 15.81. In addition, some 29.11 million shares of Gul Ahmed were traded with closing price of Rs 23.97.

Moreover, PIA Holding Company LimitedB along with Khyber Textile Mills Limited again remain the top gainers increasing by Rs 1,370.34 and Rs 130.19 respectively to close at Rs 15,073.78 and Rs 1,432.07, while Hoechst Pakistan Limited and Sapphire Textile Mills Limited were the top losers declining by Rs 47.90 and Rs 37.87 respectively to close at Rs 3,150.14 and Rs 1,100.00.

Meanwhile, BR Automobile Assembler Index Closed at 21,955.41 points with a net negative change of 206.64 points or 0.93 percent down with total turnover remain 3.22 million shares. On the other hand, BR Cement Index settled at 10,131.63 points with a net positive change of 86.11 points or 0.86 percent and a total turnover of 46.75 million.

BR Commercial Banks Index closed at 34,595.48 points down by 246.28 points or 0.71 percent with a total turnover of 20.82 million shares. On the other hand, BR Power Generation and Distribution Index ended at 19,827.29 points with a net positive change of 39.19 points or 0.2 percent and total turnover remain 11.57 million shares.

Meanwhile, BR Oil & Gas Index closed at 11,624.58 points with a net negative change of 131 points or 1.11 percent on 15.97 million shares turnover. BR Technology & Communication Index finished at 4,876.67 points marking a negative change of 63.37 points or 1.28 percent down, with total turnover of 23.26 million shares traded.

Ahsan Mehanti of Arif Habib Corporation said that stocks closed lower due to pre-budget uncertainty and concerns over parliamentary approval of IMF-driven tax measures in the FY26 budget, including the phase-out of industrial incentives and implementation of agricultural sector tax reforms. Additionally, the IMF’s warning about external risks such as US tariff policies and escalating tensions with India negatively impacted market sentiment. The decline in global crude oil prices and rupee instability further contributed to the bearish trend, he added.