The Pakistan Stock Exchange’s KMI-30 index ended Tuesday’s session in the red as heavy selling in major fertilizer and energy names overshadowed gains in selected blue-chip stocks.
The benchmark index closed at 267,375.33 points, down 1,043 points, marking a 0.39% fall from the previous session.
Early Strength Fades
The market began on a positive note, touching 268,594.33 during intraday trading. However, momentum faded as investors locked profits, leading to a steady slide toward 265,822.06.
Pullers Dominate Early Session
Fertilizer giant Fauji Fertilizer Company (FFC) topped the gainers’ list, emerging as the strongest pillar for the market. Its rally alone contributed over 1,040 points.
Other notable performers included:
Meezan Bank (MEBL)
Pakistan Petroleum Limited (PPL)
Systems Limited (SYS)
Oil & Gas Development Company (OGDC)
Traders said these stocks attracted buying on strong earnings expectations and stable dividend outlooks.
Draggers Take Control
The second half of the session saw increased pressure in heavyweight stocks:
ENGRO and EFERT witnessed aggressive selling, followed by HUBC and Lucky Cement. Their combined negative contribution outweighed gains from leading counters.
Market analysts attributed the drop to:
Short-term profit taking
Sector rotation
Cautious investor sentiment
Volumes and Outlook
Total traded volumes stood at 135 million shares, reflecting cautious participation.
Despite today’s correction, experts believe the broader trend remains bullish due to 44.62% fiscal year gains, suggesting underlying strength.
Investors are advised to watch upcoming corporate results and macroeconomic developments for direction.
