The Pakistan Stock Exchange (PSX) saw another day of cautious trading on Tuesday. Investors remained watchful ahead of the bidding process for Pakistan International Airlines (PIA). The market continued its recent volatility. It closed lower after experiencing significant swings during the day.
The session was described as choppy and range-bound. Adjustments for the rollover week added to the cautious feeling in the market. The benchmark KSE-100 index moved between a high of 663 points and a low of 235 points. It eventually closed at 171,073.73. This was a drop of 130.45 points, or 0.08 percent.
Market activity was selective. Traders reshuffled their positions, which limited any major upward movement. All eyes were on the government’s plan to sell a major stake in PIA. This development is being monitored for its potential effects on the country’s finances and market dynamics.
Several companies influenced the index’s performance. Habib Bank, Kohat Cement, and United Bank helped add 324 points to the index. However, losses from Engro Holdings, Fauji Fertiliser, and Systems Ltd pulled the market down. These companies contributed a combined loss of 308 points.
Overall market participation was low. The total trading volume decreased by 5.02% to 648 million shares. The total traded value also fell by 6.12% to Rs28.23 billion. This shows that investors were hesitant to make big moves.
An analyst noted that the index closed almost flat. The weak sentiment was linked to the rollover week, which often brings uncertainty to the PSX.
In other news, weekly data for the oil and gas sector showed a decline. Oil production fell by 3.1% week-on-week. Gas production dropped by 7.7% due to lower output from key fields.
Looking ahead, analysts expect quiet trading to continue. Routine selling pressure is likely to persist through the rollover week. The 170,000-point level is a key support for the current market trend. If the index breaks below this point, it could signal a new phase of consolidation.
Investor sentiment at the Pakistan Stock Exchange remained cautious after PIA was sold to the Arif Habib Consortium for Rs. 135 billion, a landmark privatization move.According to reports, Arif Habib won a 75% stake in PIA, a development that weighed on market confidence and contributed to continued losses at the PSX.
