Stocks lose 254 points on profit-taking

The stock market suffered mild losses on Tuesday as jittery investors opted to take profits amid rising geopolitical tensions in the Middle East. Ahsan Mehanti from Arif Habib Corporation reported that stocks closed lower due to a decline in global equities, driven by geopolitical uncertainty and the State Bank of Pakistan’s decision to maintain the key policy rate amid inflationary pressures from the Israel-Iran conflict. He stated that the weakening rupee, due to tensions in the Middle East and rising imports, led to a bearish close at the PSX. According to brokerage Topline Securities, the Pakistan Stock Exchange witnessed a volatile session, closely tracking global market cues. The benchmark index oscillated within a wide range—touching an intraday high of 666 points and a low of 409 points—before settling at 121,971.04 level, down 254.32 points or 0.21 per cent.