- The KSE-100 index closed at 161,281.76 points, down 1,521.39 points.
- Session low registered at 161,159.26 points, down 1,643.89 points.
- Index registered intraday high of 163,384.95, up 1,643.89 points
Stocks fell on Tuesday as investors consolidated positions near the end of the earnings season, with higher-than-expected inflation in October and uncertainty over potential constitutional changes keeping risk appetite in check.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index settled 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%.
“Earnings season is nearing its end and inflation has come in higher than expected. This has caused a period of consolidation,” said Ahfaz Mustafa, managing director of Ismail Iqbal Securities.
“We will see movement in the market depending on the new flow, especially regarding the 27th amendment and NFC [National Finance Commission] price,” he added.
Political developments were also in the mood after Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari said a Pakistan Muslim League-Nawaz (PML-N) delegation led by Prime Minister Shehbaz Sharif was seeking the party’s support for a proposed 27th constitutional amendment.
According to details he shared, the package considers a constitutional court, restoration of executive judges and changes to judicial appointments, along with proposals affecting the NFC award, Article 243, and federal control over education and population planning.
Price pressure added to caution. Headline consumer price index (CPI) rose 6.2% year-on-year in October from 5.6% in September, driven by food, with perishable goods rising amid flood damage and border-related disruptions to trade routes.
On Monday, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index rose 0.72% to close at 162,803.15 from 161,631.73, trading between 163,935.03 and 161,892.59 during the session.
