Stock market participants were pessimistic, as the benchmark KSE-100 index fell by 0.44 percent, while both the volume of trades and the dollar value of shares exchanged were lower than they had been the previous day. Tuesday morning open saw the benchmark index rise 198 points to 46,737.87, a new intra-day high for the day’s trading. Market optimism was lifted by the financial results of Engro Polymer and Chemicals Ltd. (EPCL), but profit-taking quickly resumed and the index dropped to 46,270.13, a drop of 269 points. Closed at 46,333.36, the KSE-100 Index had fallen by an average of 206.23 points (0.44pc) for the day. “Investor confidence was affected as the rupee depreciated against the US dollar,” wrote Capital Stake in a note. The rupee fell further against the US dollar on Tuesday, closing at 184.44, down Rs1.90, or 1.03 percent, from where it had started the day. EPCL’s 1QCY22 results showed a profit of Rs4.71 billion and an EPS of Rs5.19, an increase of over 14pc YoY when compared to Rs4.14bn and an EPS of Rs4.56 in 1QCY21, which was the previous year’s results. In addition to banking (87.29 points), oil and gas exploration (70.45 points), and technology and communication, the sectors that dragged down the benchmark index were (49.8 points). In comparison to Monday’s 255.61 million shares, the total number of shares traded on the All-Share Index was 228.62 million. Stock values dropped to Rs8.84 billion from Rs9.64 billion in the previous trading session. There were 18.33 million shares in Cnergyico PK, followed by 18.03 million in Ghani Global Holdings, and 11.55 million in WorldCall Telecom Limited. On Tuesday, 345 firms’ shares were exchanged, with 94 seeing their prices rise, 226 seeing their prices decline, and 25 seeing their prices stay the same.