RECORDER REPORT

KARACHI: Pakistan Stock Exchange (PSX) came under pressure on Tuesday as investors opted for profit-taking following two sessions of gains. The market’s decline was primarily driven by selling in blue-chip stocks amid renewed caution over mixed corporate earnings and post-rally consolidation.

The benchmark KSE-100 Index fell by 1,521.39 points, or 0.93 percent, to close at 161,281.77 points, compared to 162,803.16 points in the previous session. During intraday trading, the index touched a high of 163,384.96 points and a low of 161,159.27 points.

On Tuesday, the BRIndex100 closed at 16,976.47 points, down 177.97 points or 1.04 percent, compared with the previous close, with a total turnover of 721.61 million shares. The BRIndex30 also declined, closing at 53,767.81 points, down 801.35 points or 1.47 percent, with a total turnover of 500.55 million shares.

According to a market review by Topline Securities, bearish sentiment returned to the bourse as investors booked profits after two days of strong gains. The brokerage noted that heavyweights including ENGRO, MARI, BAHL, MCB, and TRG led the decline, collectively pulling down the index by 543 points. Despite the overall fall, market participation remained strong with trading volumes showing resilience compared to the prior session.

Trading activity in the ready market totaled 899.41 million shares, slightly lower than 949.36 million shares traded a day earlier, while the traded value declined to Rs37.31 billion from Rs47.58 billion. The market capitalization stood at Rs18.47 trillion, compared with Rs18.64 trillion previously.

Out of 479 companies traded in the ready market, 133 advanced, 314 declined, and 32 remained unchanged.

Among volume leaders, WorldCall Telecom Limited topped the list with 78.87 million shares, closing at Rs1.81. Telecard Limited followed with 76.86 million shares, ending at Rs12.68, while K-Electric Limited recorded 71.62 million shares, closing at Rs5.52.

In terms of major price movements, Pakistan Services Limited gained Rs115.61 to close at Rs1,317.11, while Ismail Industries Limited increased by Rs35.59 to finish at Rs1,999.98. On the losing side, Unilever Pakistan Foods Limited dropped Rs186.46 to Rs28,753.29, followed by PIA Holding Company Limited (B), which declined Rs27.55 to Rs24,425.50.

The BR Automobile Assembler Index closed at 24,872.00, lower by 19.68 points or 0.08 percent, with a total turnover of 2.13 million shares. The BR Cement Index ended at 12,628.86, down 156.88 points or 1.23 percent, with 25.58 million shares traded.

The BR Commercial Banks Index settled at 49,239.41, losing 753.69 points or 1.51 percent, on a turnover of 79.86 million shares, while the BR Power Generation and Distribution Index recorded a steep fall, closing at 24,997.05, down 2,859.78 points or 10.27 percent, with a turnover of 85.56 million shares.

The BR Oil and Gas Index dropped to 13,545.24, shedding 212.72 points or 1.55 percent, with 98.62 million shares traded, while the BR Technology and Communication Index fell to 3,869.71, down 66.81 points or 1.70 percent, with a turnover of 251.11 million shares.