Shares at the Pakistan Stock Exchange’s benchmark index turned around to a bearish trend on Tuesday, after hitting a record high.

According to the PSX website, the KSE-100 index lost 1,308.72 points, a negative change of 1.13 per cent, and closed at 114,860.69 points as compared to 116,169.41 points on the last trading day.

A total of 1,252,980,316 shares were traded during the day as compared to 1,470,661,659 shares the previous trading day, whereas the price of shares stood at Rs62.722 billion against Rs66.628 billion on the last trading day.

As many as 470 companies transacted their shares in the stock market, 134 of them recorded gains and 297 sustained losses, whereas the share price of 39 companies remained unchanged.

After closing at 116,169 on Monday, the market opened strong on Tuesday, with the index gaining 766 points to reach 116,936.

The index continued its upward trajectory, rising a further 64 points to surpass the 117,000 mark, setting a new record high. But the positive trend reversed sharply shortly afterwards. The index saw a significant drop of over 2400 points, eventually settling at approximately 113,600.7.

This fifth consecutive rate cut by the SBP reflects a supportive monetary policy aimed at stimulating economic activity, driven by November’s inflation rate dropping to its lowest point since 2018 (4.9%).

Analysts predict this shift will draw investment away from fixed-income securities and into equities, further invigorating the market.

The three top trading companies were WorldCall Telecom with 151,921,663 shares at Rs1.88 per share, Pak Elektron with 107,502,606 shares at Rs38.11 per share and Cnergyico PK with 58,285,174 shares at Rs7.08 per share.

Unilever Pakistan Foods Limited witnessed a maximum increase of Rs180.02 per share price, closing at Rs21,000.02, whereas the runner-up was Philip Morris (Pakistan) Limited with a Rs29.78 rise in its per share price to Rs789.88

Mari Petroleum Company Limited witnessed a maximum decrease of Rs89.97 per share closing at Rs809.76 followed by Nestle Pakistan Limited with a Rs74.88 decline to close at Rs7,511.48.