PSX slips as strike worries prompt sell-off
The Pakistan Stock Exchange (PSX) came under pressure on Tuesday, with the benchmark KSE-100 index snapping its upward streak as investors opted for profit-taking amid mounting concerns over sweeping taxation measures and a nationwide strike call by trade and industry on July 19. The session opened on a positive note, driven by continued bullish sentiment from the previous day, as heavyweight banking stocks led early gains. According to Topline Securities Ltd, the index surged to an intraday high of 1,245 points before sentiment turned sour in the second half. Selling pressure intensified as investors sought to lock in gains, triggering a broad-based sell-off. The index swung sharply during the session, touching an intraday low of 676 points before settling at 135,939.87 — down by 562.67 points or 0.41pc. The day’s movement reflected a tug-of-war between optimism and caution.