Bears dominate as KSE-100 loses over 1,300 points on Tuesday

Published
0
A stockbroker talks on his mobile during a trading session inside the trading hall of the Karachi Stock Exchange — Reuters/File
A stockbroker talks on his mobile during a trading session inside the trading hall of the Karachi Stock Exchange — Reuters/File

Pakistan’s benchmark index, KSE-100, closed in the red on Tuesday, down 1303.52 points from its previous close of 174,453.93 points.

The index experienced a volatile trading session, reaching a high of 176,131.35 points and a low of 171,693.39 points.

Trading volumes stood at 424,959,530 at a value of Rs32,759,788,353.

Top active stocks were led by K-Electric Limited, falling 3.81pc to Rs7.82 at a volume of 122,541,564, followed by Bank of Punjab, rising 2.62pc to Rs34.12 at a volume of 79,835,860, and Worldcall Telecom Limited, which fell 0.65pc to Rs1.52 at a volume of 35,505,622.

Top advancers were led by Itanz Technologies Limited, rising 11.78pc to Rs9.49, followed by Metropolitan Steel Corporation Limited advancing 10.02pc to Rs23.05, and 786 Investments Limited rising 10.01pc to Rs19.67.

Top decliners were led by LSE Capital Limited, falling 38.76pc to Rs1.09, followed by Mirpurkhas Sugar Mills Limited, declining 10.01pc to Rs31.82, and Engro Powergen Qadirpur Limited, falling 10.01pc to Rs27.69.

According to Topline Securities, Millat Tractors Limited (MTL) announced its 2QFY26 result on Tuesday, where the company recorded an unconsolidated profit of Rs2.4bn, down 21pc YoY, but up 4.7x QoQ.

This result was higher than expectations due to higher-than-expected gross margins. MTL ended the day in green, up 3.32pc to Rs548.91.

The brokerage house also noted that Pakistan State Oil Company (PSO) announced its 2QFY26 results on Tuesday, reporting an unconsolidated profit of Rs2.7 billion. The earnings were below industry expectations due to higher-than-expected inventory losses and a higher-than-expected Effective Tax Rate (ETR). PSO ended the day in the red, down 6.05pc to Rs409.39.

Today’s market result follows a turbulent trading session on Monday, when the index lost over 5,000 points or 2.87pc, which analysts at Topline Securities noted was driven by foreign outflows and escalating political noise that further dampened investor confidence, intensifying the bearish momentum.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Reviewing ties
Updated 06 Nov, 2026

Reviewing ties

With the Democrats clawing back power in Congress, changes in America’s approach to global engagement are likely to occur.
Genuine engagement
06 Nov, 2026

Genuine engagement

THE PTI-led opposition alliance TTAP appears to have finally brought an initially reluctant Maulana Fazlur Rahman on...
Human bondage
Updated 06 Nov, 2026

Human bondage

Law enforcement and political quarters are notorious for protecting the perpetrators, instead of ensuring legal implementation. Systemic coercion will keep Pakistan from becoming a humane state.
Blue wave
Updated 05 Nov, 2026

Blue wave

While Trump does not usually learn from his errors, perhaps seeing the response of the American voters he may attempt a wiser course.
New LPG policy
Updated 05 Nov, 2026

New LPG policy

If the policy is enforced effectively, it could potentially help end shortages and slash prices. But the question remains whether it will.
Polio’s other victims
05 Nov, 2026

Polio’s other victims

FOR decades, Pakistan has vowed to eradicate polio. Billions have been spent on logistics and awareness drives. Yet...