ISLAMABAD: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) witnessed a strong bearish trend on Monday, losing 4,864.54 points, a negative change of 3.21 per cent, closing at 146,842.97 points against 151,707.52 points on the last trading day, according to PSX data.
According to Ali Najib, deputy head of trading at Arif Habib Ltd, “This marks the seventh consecutive Monday (since February 9th excluding Mar 23rd, Pakistan Day holiday) where the market witnessed significant sell-offs, largely driven by adverse geopolitical developments over the weekend. Investor participation remained cautious, keeping overall momentum fragile and contributing to heightened volatility.”
During the session, the market recorded a trading volume of 529.13 million shares with a traded value of Rs 29.603 billion, compared to 435.513 million shares valuing Rs 23.989 billion in the previous session. The market capitalisation declined to Rs16.327 trillion from Rs16.885 trillion a day earlier.
Out of the 481 active companies in the ready market, 51 advanced, 379 declined and 51 remained unchanged.According to brokerage firm Topline Securities, the local bourse felt the heat on Monday as surging oil prices and escalating geopolitical tensions rattled investor confidence. Adding to the unease, investors grew wary over the government’s decision to keep fuel prices unchanged for a second consecutive week, raising concerns of fiscal strain.
Bears wasted no time seizing control, unleashing aggressive selling across the board. Relentless liquidation pushed the index to an intraday slide of 7,050 points — bringing the market uncomfortably close to triggering a trading halt — before it finally settled at 146,842, a sharp drop of 4,864 points (-3.21 per cent).
On the macroeconomic front, the International Monetary Fund (IMF) and Pakistan reached a staff-level agreement on the third review of the Extended Fund Facility (EFF) and the second review of the Resilience and Sustainability Facility (RSF), providing a degree of underlying support to sentiment.
On the corporate side, Engro Corporation announced that its Board of Directors has approved a share buyback of up to 45 million shares, scheduled between May 7 and October 25, 2026, aimed at enhancing cash flow efficiency and offering an exit opportunity to investors.
Index-wise, major laggards including FFC, ENGROH, MEBL, LUCK, UBL, HBL, NBP, PPL, PSO and EFERT which collectively eroded approximately 2,440 points from the benchmark. Going forward, developments in the Middle East will remain a key trigger, with unpredictable geopolitical news flow likely to shape the near-term direction of the KSE-100 Index in the coming week, Najib added.
Top gainers included Blessed Textiles Limited, which increased by Rs79.91 to close at Rs879.01, and Shahmurad Sugar Mills Limited, which gained Rs22.76 to settle at Rs392.76. On the losing side, PIA Holding Company Limited B declined by Rs704.78 to close at Rs15,500, while Unilever Pakistan Foods Limited fell by Rs628.5 to close at Rs23,952.5.
In the futures market, turnover stood at 109.897 million shares with a traded value of Rs 7.123 billion, compared to 524.52 million shares worth Rs 19.587 billion in the previous session. Out of 311 futures-market companies, 8 recorded gains while 303 declined.
