Pakistan’s benchmark index, KSE-100, closed in the red on Tuesday, down 1432.54 points.
Topline Securities noted that the session witnessed pronounced volatility, with the index staging a brief rebound to an intraday high of +1,546 points before intensified selling pressure pushed it to a low of –3,783 points.
Despite the decline in points, trading activity remained robust, with total volumes clocking in at 687 million shares and turnover reaching Rs38.4 billion.
The top active stocks were led by K-Electric Limited, falling 1.17pc to Rs7.57 at a volume of 64,848,829, followed by The Bank of Punjab, declining 1.62pc to Rs29.70 at a volume of 49,139,683, and Worldcall Telecom Limited, falling 0.76pc to Rs 1.31 at a volume of 45,981,935.
The top advancers were led by Abdullah Shah Ghazi Sugar Mills Limited, rising 12.32pc to Rs9.12, followed by Chenab Limited, rising 11.79pc to Rs9.48, and Ittefaq Iron Industries Limited, rising 10.49pc to Rs8.11.
The top decliners were led by LSE Capital Limited.(Right) declining 20.62pc to Rs0.77, followed by Paramount Spinning Mills Limited falling 13.40pc to Rs5.62, and Gulistan Spinning Mills Limited declining 13.09pc to Rs6.04.
This 0.85pc fall from its previous close of 167,691.08 points comes on the heels of the index’s bloodbath on Monday, the third major meltdown at the PSX in the past two weeks, with the KSE-100 losing 5,149.80 points on February 16 and 6,683 points, the steepest single-day decline in history, on February 19.
Mohammad Sohail, CEO of Topline Securities, noted that the market is in “correction mode.” He stated that the current sell-off “appears to be driven by above-average foreign selling, Reko Diq-related concerns, softer corporate results, and stock futures unwinding”.
Interestingly, he cautions against deeming this as a bearish market, calling it an “11pc correction instead”.
AKD Securities believed that geopolitical developments and the outcome of the upcoming IMF review mission, due to arrive next week, will be crucial in determining investor sentiment.
Investors will also be looking towards corporate earnings reports for a possible upside.
Pakistan Oilfields Ltd announced its 2QFY26 results today. The company recorded a profit of Rs6.3bn, down 17pc YoY but up 16pc QoQ. This takes 1HFY26 earnings to Rs41.29/share, up 16pc YoY, according to Topline Securities.
The brokerage house noted that earnings came out higher than expectations, driven by higher-than-expected other income and a lower Effective Tax Rate (ETR), which stood at 26pc in 2QFY26, compared to 37pc in 2QFY25 and 33pc in 1QFY26.
Additionally, Hub Power Company announced its 2QFY26 results today. The company reported earnings of Rs10.6bn, an increase of 152pc YoY. Their profits were down compared to the previous quarter by 9pc due to higher ETR. According to Topline Securities, this result came lower than expectations due to a higher-than-expected ETR.
