The Pakistan Stock Exchange (PSX) has witnessed a bearish session on Tuesday as the benchmark KSE-100 Index fell by 533 points, failing to sustain the 114,000-point level.
At the close of trading, the index settled at 113,568 points, down from the previous day’s close of 114,102 points.
This decline came despite the State Bank of Pakistan’s (SBP) unexpected policy rate cut, which was widely expected to boost investor sentiment.
The trading session began on a positive note, with the KSE-100 index surging by nearly 990 points in early trade.
The monetary policy decision had initially lifted hopes for increased market liquidity and corporate profitability, fueling early optimism. However, the momentum was short-lived.
Market sentiment quickly turned negative due to ongoing regional tensions, leading investors to adopt a risk-averse approach.
As a result, heavy profit-taking was observed across key sectors, pulling the KSE-100 index into negative territory by the end of the session.
Meanwhile,
The Pakistani rupee came under slight pressure on Tuesday, as the US dollar appreciated by 15 paisas in the interbank market amid growing demand driven by rising import bills.
According to the State Bank of Pakistan (SBP), the dollar closed at Rs281.37, up from the previous day’s rate of Rs281.22.
Currency dealers and analysts attributed the uptick to increased dollar demand for import payments.
Experts noted that the import bill for April 25 surged to $5.54 billion, intensifying the demand for foreign currency and putting mild pressure on the local currency.
The elevated import figures are likely linked to increased procurement of essential goods and raw materials as economic activity gradually recovers.