PSX trades in narrow range amid cautious investor sentiment

The Pakistan Stock Exchange (PSX) started Tuesday on a subdued note, with the benchmark KSE-100 index showing limited movement during the opening hours. Around 9:34 AM, the index briefly surged by 484.7 points to 162,171.88, as trading volume reached 3.85 million shares.

However, gains were short-lived, and by 9:55 AM the benchmark had pared most of its rise, trading at 161,760.78 with an increase of only 73.6 points, while volume climbed to over 35.7 million shares.

A few minutes later, the market slipped into negative territory, falling 306.94 points to 161,380.24 at 10:12 AM, with volume reaching 52 million shares. By 10:34 AM, the index recovered slightly to 161,848.12, up 160.94 points or 0.10 percent, with cumulative volume at nearly 66.7 million shares.

Sector performance drives early buying

Buying interest was observed in key sectors, including automobile assemblers, commercial banks, oil and gas exploration companies, and oil marketing companies (OMCs). Large-cap stocks such as HBL, NBP, UBL, OGDC, POL, SSGC, SNGPL, and WAPDA Investment Fund (WAFI) traded in the green, supporting the benchmark index.

Among the most active stocks, WTL surged 10.33 percent to Rs2.03, BECO rose 7 percent to Rs8.71, and TREET gained 2.84 percent to Rs34.42. Other notable performers included PACE, up 3.82 percent, and SPWL, up 3.98 percent.

Top gainers and decliners

The top advancers of the session included FCIBL, which jumped 10.02 percent to Rs15.81, EMCO up 10.01 percent to Rs74.54, REDCO, SEL, and IBLHL, each recording gains around 10 percent. FRCL and SASML also saw strong upside movement.

Conversely, KCL led the decliners, falling 9.46 percent to Rs159.11, followed by CENI down 9.23 percent to Rs51.52. JKSM, KPUS, and SHJS also posted losses exceeding seven percent, while LEUL, GLPL, and FECTC declined between 5.5 and 5.8 percent.

Macroeconomic factors influence sentiment

The market’s cautious tone reflects broader economic concerns. The State Bank of Pakistan reported a current account deficit of $112 million for October 2025, driven by higher imports and weaker exports.

Analysts said this deficit weighed on investor sentiment, prompting measured trading in the early session. Monday had set a similar pattern, as the KSE-100 ended at 161,687.18, down 248.01 points or 0.15 percent. The previous session saw the index move in a range of 2,120 points, with 47 stocks gaining, 52 declining, and one unchanged.

Outlook for the week

Despite the early fluctuations, the market shows resilience, with the KSE-100 up 40.58 percent year-to-date and 70.37 percent over the past year. The 52-week range remains between 94,180.60 and 169,988.62.

Analysts suggest investors remain cautious, weighing corporate earnings against macroeconomic indicators, particularly fiscal pressures and external account developments. Early activity highlights measured trading, with buying limited to select sectors while broader momentum remains muted.