KARACHI: The KSE-100 index shed 3,362.62 points, or 1.93 per cent, on Monday to close at 170,600.2, against the previous session’s close of 173,962.82. The market traded in the negative zone amid an escalation in geopolitical tensions and a rise in oil prices.
The index touched an intraday high of 174,171.64 and a low of 170,396.85 during the session. The KSE-30 index declined 1,190.42 points to settle at 50,975.91.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX ended the session on a weak note. Investor sentiment remained fragile amid the absence of a conclusive US-Iran peace agreement over the weekend, prompting broad-based selling across key sectors.
“Going forward, developments on the US-Iran diplomatic front will remain key drivers of market direction. Any progress in regional de-escalation could help restore investor confidence, while prolonged uncertainty may keep volatility elevated,” he said.
Ready market turnover rose to 589.76 million shares from 555.06 million shares in the preceding session, an increase of 6.25 per cent. Traded value fell 21.73 per cent to Rs31.98 billion from Rs40.88 billion, while market capitalisation declined 1.51 per cent to Rs18.88 trillion from Rs19.17 trillion.
Market breadth was negative, with 168 companies advancing, 296 declining, and 25 unchanged out of the total of 489.Among top gainers, Khairpur Sugar Mills added Rs242.94 to close at Rs2,672.36, while Thal Industries Corporation gained Rs77 to close at Rs847.02. PIA Holding Company led decliners, shedding Rs652.10 to close at Rs17,945.9, while Unilever Pakistan Foods lost Rs161.01 to close at Rs25,999.99.
According to Topline Sales Desk, bears firmly dominated the trading session as investor sentiment turned sharply negative, dragging the benchmark index deep into red territory. The market remained under persistent selling pressure throughout the day.
The negative momentum was primarily driven by a surge in international oil prices amid rising geopolitical tensions in the Middle East, as conflict between Israel and Lebanon escalated. Elevated oil prices revived concerns over inflation and external account pressures, dampening investor confidence and triggering broad-based selling across key sectors, said the desk.
The bearish momentum was largely fuelled by heavyweight stocks, including ENGROH, FFC, LUCK, HUBC and OGDC, which collectively shaved 1,464 points off the benchmark index, playing a key role in sustaining the market’s downward trajectory.
Dewan Cement led turnover with 43.32 million shares, gaining 48 paisas to close at Rs11.23. TRG Pakistan followed with 39.41 million shares, advancing Rs4.89 to close at Rs74.06. WorldCall Telecom, Cnergyico PK, Bank of Punjab, Fauji Foods, Hascol Petroleum, PIA Holding Company, TPL Corp, and K-Electric also featured among the top-traded stocks.
In the futures market, 310 companies were traded, with 66 recording increases, 239 declines, and five remaining unchanged.
