PSX plunges over 2,000 points amid caution

KARACHI: The Pakis-tan Stock Exchange (PSX) extended its losing streak for a fifth consecutive session on Tuesday, with equity investors losing another Rs239 billion as sentiment remained subdued despite the central bank maintaining its policy rate at 11 per cent in its fourth monetary policy review the other day. According to Topline Securities Ltd, the benchmark KSE-100 index traded in a volatile manner, swinging between sharp gains and steep losses. The session opened positively, rising 1,216 points to hit an intraday high of 163,380.67, but the momentum faded as selling pressure intensified. The index hit an intraday low of 2,358 points at 159,805.35 before closing at 160,101.03, down 2,062.78 points or 1.27pc. Analysts attributed the mixed performance to the futures rollover week and a series of corporate earnings announcements, which prompted cautious trading and profit-taking. Investors are now watching upcoming results and rollover adjustments for market direction. Major drags included Hub Power, Meezan Bank, Habib Bank, Oil and Gas Development Company and United Bank, collectively knocking off 585 points from the index. Gains from Lucky Cement, Pakistan Services Ltd, Services Industries, Bank Al Habib and TRG Pakistan partly offset the losses, adding 171 points. Despite the decline, trading activity remained firm. Total volume increased 1.19pc to 1.014bn shares, while traded value rose 6.08pc to Rs36.7bn. K-Electric led volumes with 94.5m shares. Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the market remained under pressure as institutional investors opted for profit-taking, keeping the index barely above the key 160,000-point support level. “Early optimism faded quickly after the first trading hour as participants trimmed positions across sectors,” he added. Since hitting an intraday high of 168,414 on Oct 21, the benchmark has lost 8,313 points, or 4.94pc, reflecting rising caution among investors. Reports circulating on social media about possible border tensions further dampened sentiment, triggering panic selling that briefly pushed the index below 160,000 before late buying helped it recover slightly. Published in Dawn, October 29th, 2025

According to Topline Securities Ltd, the benchmark KSE-100 index traded in a volatile manner, swinging between sharp gains and steep losses. The session opened positively, rising 1,216 points to hit an intraday high of 163,380.67, but the momentum faded as selling pressure intensified. The index hit an intraday low of 2,358 points at 159,805.35 before closing at 160,101.03, down 2,062.78 points or 1.27pc.

Analysts attributed the mixed performance to the futures rollover week and a series of corporate earnings announcements, which prompted cautious trading and profit-taking. Investors are now watching upcoming results and rollover adjustments for market direction.

Major drags included Hub Power, Meezan Bank, Habib Bank, Oil and Gas Development Company and United Bank, collectively knocking off 585 points from the index. Gains from Lucky Cement, Pakistan Services Ltd, Services Industries, Bank Al Habib and TRG Pakistan partly offset the losses, adding 171 points.

Despite the decline, trading activity remained firm. Total volume increased 1.19pc to 1.014bn shares, while traded value rose 6.08pc to Rs36.7bn. K-Electric led volumes with 94.5m shares.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the market remained under pressure as institutional investors opted for profit-taking, keeping the index barely above the key 160,000-point support level. “Early optimism faded quickly after the first trading hour as participants trimmed positions across sectors,” he added.

Since hitting an intraday high of 168,414 on Oct 21, the benchmark has lost 8,313 points, or 4.94pc, reflecting rising caution among investors. Reports circulating on social media about possible border tensions further dampened sentiment, triggering panic selling that briefly pushed the index below 160,000 before late buying helped it recover slightly.

Published in Dawn, October 29th, 2025