Equities drift lower in directionless trade
KARACHI: For the third straight session on Tuesday, the Pakistan Stock Exchange (PSX) failed to sustain the bullish opening and settled in the red, as investors indulged in late profit-taking, reflecting extreme volatility in the absence of any positive developments.
According to Topline Securities Ltd, the market experienced a turbulent session, swinging between gains and losses as volatility took centre stage. Rollover pressure ahead of futures contract expiry, coupled with the persistent absence of major market-moving news, kept sentiment fragile throughout the day. The benchmark index touched an intraday high of 835 points at 162,819.85 before reversing sharply to an intraday low of 707 points at 161,276.81. By the close, the index settled at 161,692.49 points, down 291.6 points or 0.18 per cent.
Among key movers, heavyweights Fauji Fertiliser, Lucky Cement, Bank Alfalah, Pakistan Oilfield and Systems Ltd provided a combined uplift of 317 points. On the flip side, Engro Holdings, Pakistan Petroleum, National Bank, Bank Al-Habib, and Hub Power weighed on the index, jointly dragging it lower by 303 points.
Market participation remained moderate, with the trading volume rising by 20.43pc to 589 million shares. However, the traded value fell by 6.4pc to Rs22.1bn. WorldCall Telecom led the volume chart with 59.1m shares changing hands.
Describing yet another lacklustre session at the PSX, Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said investors largely stayed on the sidelines throughout the session amid the absence of meaningful positive triggers.
On the corporate front, OGDCL informed the PSX that it had received the fifth installment of Rs7.725bn in interest payment from Power Holding (Pvt) Ltd, in line with the Government of Pakistan’s approved mechanism. Analysts predict the index will likely consolidate between 157,000 and 164,000 for the rest of the week. To maintain stability and lay the foundation for a potential rebound, the market must avoid setting a new low in the upcoming sessions.
Published in Dawn, November 26th, 2025
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