After a strong buying session on Monday, the Pakistan Stock Exchange (PSX) turned bearish again on Tuesday, with the benchmark KSE-100 Index declining by more than 800 points at the start of trading.
At 9:50 AM, the benchmark index was down 847.71 points or 0.52%, standing at 160,690.69 points.
Significant selling pressure was observed across major sectors, including automobile assemblers, cement, commercial banks, oil & gas exploration companies, OMCs, power generation, and refineries. Heavyweight stocks such as HUBCO, Mari Petroleum, OGDC, POL, PPL, PSO, MCB, MEBL, and NBP traded in the red.
This downturn followed a strong bullish session on Monday, where the KSE-100 Index surged by 1,945.50 points, or 1.22%, closing at 161,538.41 points. The rally was driven by renewed investor confidence, higher trading volumes, and strong corporate activity.
Global Market Overview
On the international front, Asian stocks climbed on Tuesday, while gold and the Nasdaq recorded their biggest gains in months amid signs of a potential end to the U.S. government shutdown.
Gold traded above $4,100, up nearly 3%, while the Nasdaq jumped 2.3%, recovering much of last week’s losses caused by volatility surrounding AI companies’ profits and pricing disputes.
South Korea’s KOSPI Index rebounded from last week’s decline, rising 1.3% in early trading. Japan’s Nikkei Index advanced 0.4%, while markets in Hong Kong and China dipped slightly by mid-morning. S&P 500 futures remained stable.
The U.S. Senate on Monday night approved an agreement to restore federal funding and end what had become the longest government shutdown. The bill now moves to the House of Representatives, where Speaker Mike Johnson aims for quick approval—possibly by Wednesday—before sending it to President Donald Trump for signature.
On Wall Street, the S&P 500 rose 1.54%, marking its biggest one-day percentage gain in months, while the Nasdaq posted its strongest daily jump since May.
