- The KSE-100 index closed at 161,281.76 points, down 1,521.39 points.
- The session low was recorded at 161,159.26 points, a decline of 1,643.89 points.
- The index recorded an intraday high of 163,384.95, an increase of 1,643.89 points
The stock market fell on Tuesday as investors consolidated their positions near the end of earnings season, with higher-than-expected October inflation and uncertainty around potential constitutional changes keeping risk appetite in check.
The Pakistan Stock Exchange (PSX) benchmark KSE-100 index closed at 161,281.76 points, down 1,521.39 points or 0.93% from the previous close of 162,803.15.
During the session, the index rose to an intraday high of 163,384.95, gaining 581.8 points, or 0.36%, before retreating to a low of 161,159.26, reflecting a decline of 1,643.89 points, or 1.01%.
“The earnings season is nearing its end and inflation has been higher than expected. This has led to a period of consolidation,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities.
“We will see movements in the market depending on the new flow, especially regarding the 27th amendment and the NFC [National Finance Commission] prize,” he added.
Political developments also figured in the sentiment after Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari said a delegation from the Pakistan Muslim League-Nawaz (PML-N), led by Prime Minister Shehbaz Sharif, sought the party’s support for a proposed 27th Constitutional Amendment.
According to details he shared, the package contemplates a Constitutional Court, the restoration of executive magistrates and changes in judicial appointments, along with proposals related to the NFC Award, Article 243 and federal control over education and population planning.
Price pressures added to caution. The headline consumer price index (CPI) rose 6.2% year-on-year in October versus 5.6% in September, driven by food, where perishable items soared amid flood damage and border-related disruptions to trade routes.
On Monday, the Pakistan Stock Exchange (PSX) benchmark KSE-100 index gained 0.72% to close at 162,803.15 from 161,631.73, trading between 163,935.03 and 161,892.59 during the session.
