The Pakistan Stock Exchange (PSX) witnessed a highly volatile trading session on Tuesday, with the KSE-100 Index fluctuating within a massive 4,000-point range. The index recorded an intraday high of 1,789 points and an intraday low of 2,258 points before settling at 108,896 points.
The session began on a bullish note, fueled by strong buying interest in key sectors following positive macroeconomic developments. However, the gains were short-lived as investors opted for profit booking, particularly in heavyweight sectors, leading to a sharp decline during the day, according to a report by Topline Securities. Despite the turbulence, the market managed to recover from its lows, reflecting underlying investor confidence.
The auto sector faced pressure as SAZEW closed 5.50% lower, following a significant month-on-month (MoM) decline in four-wheeler sales. The company reported sales of 584 units in November, a sharp drop from 1,002 units in October.
The banking sector also came under pressure due to concerns over the Advance-to-Deposit Ratio (ADR). Key players, including BAHL, MCB, UBL, and BAFL, closed in negative territory, weighing on the index.
On the positive side, major contributors to the index’s gains included MARI, LUCK, ATRL, SYS, and SEARL, which collectively added 508 points. However, the index was dragged down by UBL, BAHL, MCB, EFERT, and ENGRO, which collectively lost 629 points.
Trading activity remained robust, with a total volume of 1,543 million shares and a turnover of Rs. 68.7 billion. WTL led the volume charts, with 200 million shares traded during the session.
