KSE-100 falls 533 points amid profit-taking, global market uncertainty

The Pakistan Stock Exchange (PSX) experienced a volatile session on Tuesday, with the benchmark KSE-100 index swinging between gains and losses before slipping into negative territory by midday as investors resorted to profit-taking amid mixed regional cues.

Asian equities remained choppy as investors weighed whether robust US corporate earnings would continue to fuel optimism around artificial intelligence-related stocks, while a rebound in oil prices following attacks on shipping in the Strait of Hormuz added to market uncertainty.

Against this backdrop, the KSE-100 witnessed sharp intraday swings. The index opened on a subdued note at 178,157.63 points, down 42.39 points. It soon recovered, climbing to 178,422.70 points by 10:19am, up 222.68 points, before easing to 178,264.28 points at 10:44am.

Read: PSX jumps over 2,100 points on lower oil prices, global optimism

The index briefly hovered near the flatline at 178,222.08 points around 12:04pm before selling pressure intensified in the afternoon, dragging it to 177,666.74, down 533.28 points or -0.30% at 1:24pm, the time of filing this report.

The index moved within a range of 178,768.83 and 177,738.34 during the session. Trading activity remained moderate, with 186.36 million shares changing hands, while the value of traded shares stood at Rs11.38 billion.

Apparently, the benchmark experienced sharp intraday swings as investors alternated between selective buying and profit-taking, resulting in a topsy-turvy session with no clear market direction. Trading is currently underway.