PSX lacks direction as investors weigh rollover week
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Trading at the Pakistan Stock Exchange (PSX) moved cautiously on Tuesday, caught in a quiet rhythm as investors weighed rollover week adjustments and awaited clearer market signals ahead of bidding for Pakistan International Airlines’ (PIA) privatisation.
The session kicked off on a subtle note, lacking fresh energy, causing the market to drift cautiously.
As the day progressed, the KSE-100 index showed a brief spark early on, but buying interest quickly faded as investors chose to remain defensive. Light selling emerged after midday, nudging the index slightly lower, though no significant pressure was felt. A mild recovery towards the close helped stabilise the market.
Today, 60% of the total equity value traded at PSX was in Shariah-compliant stocks!
Learn about the top 3 Shariah Compliant Stocks in today's PSX Market Breakdown pic.twitter.com/c1tk9XGDUwMovement stayed restricted, with the index hovering between 171,867.32 and 170,968.31 throughout the session. Interest around the PIA privatisation process kept select stocks in focus, but the absence of any immediate positivity from the sealed bids for 75% of the airline’s stake kept the momentum muted.
Subsequently, the benchmark index finished at 171,073.73, slipping 130.44 points, or 0.08%.
KTrade Securities observed that stocks remained range-bound for another session as subdued volumes in the regular counter kept market movement muted. The KSE-100 index closed marginally lower by 130 points (-0.08%) day-on-day at 171,073.
Selling pressure was largely seen in heavyweight stocks such as Engro Holdings, Fauji Fertiliser, Systems Limited, Lucky Cement, Oil & Gas Development Company, and Pakistan State Oil, which weighed on index performance; it added.
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On the other hand, selective buying interest in Habib Bank Limited, Kohat Cement, United Bank, Pakistan Telecommunication, and Dolmen City REIT provided some support and helped limit the downside.
Market participation stayed healthy, with all-share volumes reaching 648 million shares, indicating adequate liquidity and sustained investor interest. Looking ahead, the broader market outlook remains constructive on the back of improving macroeconomic conditions following the State Bank of Pakistan’s policy rate cut. However, KTrade expects the rollover activity amid a shortened trading week to keep sentiment cautious in the near term.
Overall trading volume decreased to 650.1 million against Monday’s tally of 684.5 million. Value of traded shares stood at Rs28.2 billion. Shares of 481 companies were traded. Of these, 151 closed higher, 287 fell, and 43 remained unchanged. PIA Holding was the volume leader with trading in 45 million shares, losing Rs2.95 to close at Rs37.62.