KARACHI: The local bourse witnessed a weak and volatile session as rollover-related pressure and fiscal year-end considerations weighed on investor sentiment.
The benchmark index oscillated between an intraday high of 933 points and a low of 797 points, before closing at 177,692, down 778 points (-0.44%).
Overall participation remained cautious, with investors largely on the sidelines amid portfolio repositioning and profit-taking ahead of the fiscal year-end, resulting in a lackluster close across the broader market.
On the index contribution front, index heavyweights UBL, BAHL, ENGROH, FFC, and BAFL emerged as the major laggards, collectively dragging the benchmark by 595 points. On the flipside, OGDC, MLCF, PPL, SNGP, and COLG provided some support, collectively contributing 217 points to the index.
Market participation remained subdued compared to the previous session, with total traded volume recorded at 765 million shares and total traded value at PKR 35.4 billion, reflecting relatively lower activity amid cautious investor sentiment. KEL led the volumes board with 83 million shares exchanging hands.
More read, Profit-taking halts rally as KSE-100 slips 450 points
Earlier, The benchmark KSE-100 Index closed Monday’s session at 178,471 points, down 450 points (-0.25%), as profit-taking emerged following the index’s earlier intraday rally and the strong gains recorded over preceding sessions.
The index touched an intraday high of 180,507 points before easing to a low of 178,337 points as selling pressure intensified through the latter half of the session.
Market activity with total traded volume 807 million shares and traded value reaching approximately Rs36 billion.
