KARACHI: After a sharp two-day rally, the Pakistan Stock Exchange (PSX) on Tuesday lost momentum as investors took profits amid uncertainty over the proposed 27th constitutional amendment, which has sparked intense political debate.

According to Ali Najib, Deputy Head of Trading at Arif Habib Ltd, consolidation persisted at the bourse as the benchmark KSE-100 index fluctuated throughout the day before closing at 161,281.77 points, down 1,521.39 points, or 0.93 per cent.

The index opened on a firm note, touching an intraday high of 163,385 points, up 582 points or 0.36pc, before reversing course amid profit-taking. It hit an intraday low of 161,159 points, down 1,644 points or 1.01pc, as sentiment weakened.

Analysts attributed the pullback to investor caution following a statement hinting at possible geopolitical tensions on the eastern border.

The news prompted market participants to lock in gains after consecutive bullish sessions that had lifted the benchmark to record highs.

Sector-wise, selling pressure was noted in fertiliser, banking, exploration and production (E&P), and technology sectors, which collectively dragged the index lower.

Market participation also weakened, as overall trading volume dropped 5.26pc to 899 million shares, while the traded value declined 21.57pc to Rs37.2bn compared with the previous session. WorldCall Telecom once again dominated the volume chart with 78.8m shares changing hands.

Topline Securities Ltd reported that blue-chip stocks, including Engro Corporation, Mari Energies, Bank Al Habib, MCB Bank, and TRG contributed a combined 543-point decline in the index.

Despite Tuesday’s correction, analysts believe the broader market trend remains stable.

They expect consolidation to continue within the 160,000–170,000 range. As long as the benchmark sustains above the key 160,000 support level, gradual upward momentum may resume, potentially pushing the index beyond 165,000 later this week.

Published in Dawn, November 5th, 2025