KARACHI — After setting a new intra-day record, the Pakistan Stock Exchange (PSX) saw a sharp downturn on Tuesday as profit-taking erased earlier gains. The benchmark KSE-100 Index dropped by 562.66 points, closing at 135,939.87, down 0.41% for the day.
The session started on a high note, with the index climbing to an all-time intra-day peak of 137,747.60 points. This surge followed Monday’s remarkable rally, where the market soared by 2,203 points—the largest single-day gain in recent months. Optimism over macroeconomic recovery, foreign inflows, and strong corporate earnings had boosted investor confidence.
However, selling pressure in key sectors—including banking, cement, and technology—surfaced late in the session. As investors locked in profits, the market slipped to a day’s low of 135,826.40 points before stabilizing slightly above that mark.
Market analysts called the downturn a “healthy correction.” A senior strategist at a Karachi-based brokerage firm noted, “After multiple days of gains, a pullback was expected. It’s normal profit-taking, not panic selling.”
Despite the dip, trading volumes remained robust, indicating continued investor interest. Experts believe the market remains on solid ground due to improved macroeconomic indicators, stabilizing inflation, and anticipated foreign portfolio investments.
Looking ahead, analysts expect the market to remain range-bound in the short term, with potential for upward momentum if support levels hold and upcoming corporate results meet expectations.