Earlier, selling pressure gripped PSX as investor sentiment turned sharply negative amid geopolitical uncertainty
KARACHI:
Stocks at the Pakistan Stock Exchange (PSX) closed slightly higher on Tuesday, with the benchmark KSE-100 Index ending in positive territory after a highly volatile session, supported mainly by strength in key sectors. The KSE-100 Index added 465.64 points, or 0.31%, to settle at 151,673.45.
Earlier in the day, selling pressure had gripped the market as investor sentiment turned sharply negative amid rising geopolitical uncertainty.
Concerns linked to US President Donald Trump’s increasingly aggressive rhetoric and delays in ceasefire developments weighed heavily on equities, triggering a steep decline in early trading.
However, the market staged a recovery later in the session on expectations that Pakistan’s diplomatic efforts may yield positive outcomes, helping the index rebound into positive territory by the close.
During the session, the index touched an intraday high of 152,013.05 and a low of 149,129.41. Trump’s warmongering rhetoric against Iran has been keeping global markets on edge, contributing to heightened volatility and investor caution worldwide.
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Analysts noted that despite the late-session recovery, volatility may persist, advising investors to adopt a cautious, “wait and watch” approach in the near term.
AKD Securities Director Research Mohammed Awais Ashraf told The Express Tribune that that KSE-100 index remained under pressure since the opening bell as the prospect of escalation in the Middle East war and the looming deadline for a deal to be reached kept investors on the sideline.
Investors are anticipating a positive development and market is likely to recover the losses, he added.
“Resolution of Middle East conflict remains the centric of investor decision making since the start of the war. We expect market to rebound on resolution of Middle East and investor focus will shift on macroeconomic position of Pakistan,” he remarked.
Overall trading volume slightly inched up to 357.26 million shares from Monday’s close of 457.21 million. The value of traded shares stood at Rs20.4 billion. Shares of 477 companies were traded. Of these, 223 shares closed higher, 188 fell and 66 remained unchanged. K-Electric was the volume leader with trading in 53.7 million shares, falling Rs0.12 to close at Rs6.99.
