PSX slips into red after early gains, KSE-100 down over 600 points

The Pakistan Stock Exchange (PSX) opened in positive territory on Wednesday, November 12, with the benchmark KSE-100 Index surging over 1,100 points to 159,025.93 within the first hour of trading.

However, the early optimism quickly faded, and by 10:04 AM, the index had slipped into negative territory, down 666.96 points at 157,203.54, with total traded volume reaching 30.8 million shares.

As of 10:09 AM, the market stood at 157,258.78, reflecting a loss of 611.72 points or 0.39 percent. The intraday range so far has seen a high of 159,025.93 and a low of 157,203.54, while trading activity has amassed nearly 36 million shares.

The KSE-100 remains significantly higher than its 52-week low of 92,893.11, though still below the peak of 169,988.62 recorded over the past year. Year-to-date, the index has gained 36.60 percent.

Early gains give way to losses

The market started strongly, with initial gains buoyed by buying in select sectors. However, by mid-morning, profit-taking and cautious sentiment pulled the index lower.

Active stocks such as AMTEX and TREET showed notable gains of 8.74 percent and 2.99 percent respectively, while FNEL and PIAHCLA led the declines with drops of 0.88 percent and 2.90 percent.

Top movers

Among the top advancers, CHBL, TSBL, and ZIL recorded double-digit increases, highlighting pockets of optimism despite the broader market slide. Conversely, AGICR2, DMTM, and ASLCPS faced the steepest losses, falling between 10 and 12 percent, reflecting pressure on high-risk counters and investor caution.

Impact of security and political concerns

Tuesday’s session had ended on a negative note, with the KSE-100 closing at 157,870.50, down 3,667.90 points or 2.27 percent. Market sentiment was weighed down by reports of a suicide bombing outside Islamabad’s district court, which killed at least 12 people and injured several others.

Meanwhile, uncertainty surrounding the 27th Constitutional Amendment Bill, currently tabled in the National Assembly, contributed to cautious trading as investors remained wary of potential political and institutional implications.

Today’s intraday fluctuations reflect a market navigating both domestic security fears and ongoing political uncertainty.