The Pakistan Stock Exchange (PSX) opened the new trading week on a mixed note, with optimism in the early hours giving way to sharp selling pressure by the end of Monday’s session. The benchmark KSE-100 index eventually closed 482.71 points lower, settling at 157,554.66 with a decline of 0.31 percent.
The session began on a strong footing, with the index climbing to an intra-day high of 158,850.34 points around midday as investors chased opportunities in attractive stocks. Confidence appeared to build on expectations of positive corporate announcements and policy clarity. However, the trend reversed as the day progressed. Investors turned to profit-taking in heavyweight sectors such as banking, cement, and technology, dragging the index down to an intra-day low of 157,245.73 points before closing in negative territory.
Market experts linked the downturn to a combination of futures rollover pressure and broader caution surrounding global market movements. Many participants also awaited crucial economic data and corporate earnings releases that could set the tone for the remainder of the trading week.
According to KTrade Securities, the PSX endured volatility throughout the day, largely fueled by rollover dynamics and investors locking in profits. Major losers included United Bank, Meezan Bank, Fauji Fertiliser, and Lucky Cement, all of which contributed significantly to the day’s index decline. On the flip side, Pakistan State Oil, Hub Power, Oil and Gas Development Company, and GlaxoSmithKline offered some resilience, cushioning the broader fall.
Despite the overall decline, trading volumes remained robust, with 1.67 billion shares changing hands. Analysts noted that while short-term consolidation was evident, underlying investor confidence remained intact, supported by expectations of stronger corporate earnings and Pakistan’s long-term economic outlook.
Arif Habib Limited (AHL) provided further breakdown, highlighting that 41 shares closed in the green while 58 ended in the red. Standout gainers included Pakistan State Oil, which surged 4.22 percent, Hub Power with 1.87 percent gains, and Oil and Gas Development Company climbing 1.22 percent. On the downside, United Bank fell 2.5 percent, Engro Holdings shed 1.68 percent, and Meezan Bank dipped 1.5 percent, weighing heavily on overall market performance.
In a broader economic context, reports surfaced that Pakistan and Saudi Arabia had initiated high-level discussions aimed at boosting bilateral trade and investment cooperation. A powerful Saudi business delegation is expected to visit Pakistan next month to explore new opportunities, a development that could hold long-term significance for the stock market and wider economy.
Additionally, the Federal Board of Revenue chairman ruled out the possibility of a mini-budget, confirming that no supplementary finance bill or additional taxation was under consideration. Analysts viewed this assurance as a stabilizing factor for market sentiment.
Overall, the day’s trading value stood at Rs60.9 billion, with activity led by K-Electric. The utility firm dominated the volumes chart, trading 236 million shares and closing at Rs6.11, up by Rs0.35.
While the KSE-100 index ended lower, analysts believe the coming sessions will be crucial in setting the near-term market direction. Technical indicators suggest immediate support at the 157,000-point level, with investor focus likely to remain on policy signals, corporate results, and global economic cues.
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