Overview
- The KSE-100 closed down roughly 2,547 points at 177,955.51 on Tuesday, reversing an early gain and marking a sharp one-day drop.
- The market opened positive and briefly reached about 180,602 before selling intensified and the index fell to intraday lows near 177,866, illustrating heavy volatility during the session.
- Selling was broad based, hitting banks, oil and gas firms, cement producers, power companies, automobile assemblers and fertiliser names and producing negative market breadth.
- Trading remained active with about 1.04 billion shares changing hands and a traded value near Rs50.7 billion while official data showed foreign investors were net buyers of roughly Rs351 million.
- Analysts warned that higher oil prices worsen Pakistan’s fiscal and current-account outlook and advised watching the 178,000 technical support level for signs of further weakness.