PSX pares gains after crossing 179,000 in volatile trade

ISLAMABAD: The Pakistan Stock Exchange moved in a narrow but volatile range on Tuesday, with early gains fading as profit-taking slowed the market’s upward momentum during midday trade.

The benchmark KSE-100 Index was at 178,631.81 at 1:04pm, up 159.95 points, or 0.09%, from the previous close of 178,471.86. Earlier in the session, buying interest had lifted the index above the 179,000-point mark.

By around 10:39am, the KSE-100 had risen to 179,094.19, gaining 622.33 points, or 0.35%. The advance later extended further, taking the market to an intra-day high of 179,405.55 points.

However, the rally lost momentum in the second half of the session as investors booked profits at higher levels. The selling briefly dragged the market into negative territory, with the index touching an intra-day low of 178,424.19 before selective buying helped it recover.

Sector-wise buying seen early in the session

The market opened on a firm note, continuing the positive momentum from the previous session. Investors accumulated stocks in several major sectors, including cement, commercial banks, oil and gas exploration companies, oil marketing companies, and power generation firms.

Despite the pullback from the day’s high, the benchmark remained above the 178,500-point level around midday, supported by selective buying in heavyweight sectors. The session reflected cautious optimism among market participants even as profit-taking capped the earlier rally.

Trading activity stays robust

Market turnover remained strong during the session. More than 172 million shares changed hands, while the value of traded shares stood at Rs12.8 billion.

The day’s movement underscored a pattern of early strength followed by selling pressure, with buyers returning selectively after the index slipped from its intra-day peak.