PSX Loses Over 250 Points as Investors Stay Cautious Due to Middle East Situation

The 100-Index of the Pakistan Stock Exchange (PSX) witnessed a bearish trend on Tuesday, losing 254 points, a negative change of 0.21 percent, closing at 121,971 points as compared to 122,225 points on the last trading day. In a note, brokerage firm Topline Securities highlighted that the benchmark index oscillated within a wide range, touching an intraday high of 666 points and a low of 409 points, before settling at 121,971 level. The firm said that amid growing geopolitical uncertainty surrounding tensions between Iran and Israel, investors opted to stay cautious, leading to a lack of clear direction throughout the session. Sentiment remained fragile as the market struggled to find firm footing. On the upside, index-heavyweights UBL, HBL, SYS, and OGDC provided some support, jointly contributing 219 points. However, losses in PKGP, LUCK, ENGROH, and HUBC offset those gains, dragging the index down by a combined 291 points, Topline said. A total of 1,152,012,654 shares were traded during the day as compared to 1,224,178,443 shares the previous trading day, whereas the price of shares stood at Rs. 27.983 billion against Rs. 25.750 billion on the last trading day. As many as 473 companies transacted their shares in the stock market, 193 of them recorded gains and 244 sustained losses, whereas the share price of 36 companies remained unchanged.