Stocks closed lower at the Pakistan Stock Exchange on Tuesday as the KMI-30 index lost more than 2,100 points amid widespread selling in heavyweight sectors.
Official market data showed the KMI-30 index closed at 242,598.23 points, down 2,138.05 points, or 0.87 pc, from the previous session. The market opened at 245,058.06 points and moved between an intraday high of 246,661.47 and a low of 242,462.99 points.
Market participants attributed the decline to profit-booking and cautious investor activity after recent gains in selected sectors. The trading volume of index constituents stood at 241.53 million shares, indicating active participation despite the downward trend.
Among the stocks exerting the highest negative impact on the benchmark index were Lucky Cement, Engro Holdings, Systems Limited, Maple Leaf Cement and Hub Power Company. These companies collectively weighed heavily on overall market performance.
However, some stocks provided partial support to the market. Meezan Bank led the gainers in terms of points contribution, followed by Airlink Communication, Cnergyico, Millat Tractors and CPHL.
Despite the decline in the latest session, the benchmark index remained up 31.21% on a fiscal year-to-date basis, reflecting the market’s broader recovery trend. Meanwhile, the calendar year-to-date return stayed in negative territory at 2.39%.
Analysts said investors are closely monitoring macroeconomic developments, inflation trends, external financing conditions and upcoming corporate announcements for fresh direction in the equities market.
