KARACHI: The Pakistan Stock Exchange (PSX) endured a bearish session on Monday as the KSE-100 index shed 1,525.24 points, or 0.89 per cent, to close at 168,953.71 against the previous close of 170,478.94. The market witnessed a decline, as investors remained concerned over geopolitical uncertainty.
The index touched an intraday high of 169,360.55 and dipped to a low of 168,432.46 during the session. The KSE-30 index declined 527.12 points to settle at 50,350.49.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX endured another negative Monday. Notably, this marks the 15th negative Monday out of the last 17, highlighting the persistent impact of geopolitical uncertainty (emerging during preceding weekends) on investor sentiment since February 9th.
Market sentiment remained subdued throughout the session as renewed exchanges of attacks between Iran and Israel dampened hopes of a near-term peace agreement, prompting investors to adopt a cautious stance, he said.
“Going forward, escalating tensions between Iran and Israel are likely to remain the primary market driver. Until signs of de-escalation emerge, investor sentiment may stay cautious, keeping volatility elevated in the near term,” said Najib.
Ready market share volume fell to 657.97 million shares, a drop of 9.51 per cent from the preceding session’s 727.17 million shares. Traded value contracted 15.54 per cent to Rs22.59 billion from Rs26.75 billion, while market capitalisation eased 0.94 per cent to Rs18.75 trillion against Rs18.93 trillion previously.
Market breadth was negative, with 116 companies advancing, 336 declining and 42 finishing unchanged out of a total of 494.Among gainers, Pakistan Services Limited rose Rs80.94 to close at Rs939.54, while Khairpur Sugar Mills gained Rs20.24 to Rs2,441.08. On the losing side, PIA Holding Company declined Rs500 to Rs17,500, and Unilever Pakistan Foods fell Rs286.52 to Rs25,737.98.
According to Topline Sales Desk, the local bourse witnessed a choppy trading session, mirroring weakness across international equity markets as escalating geopolitical tensions dampened investor sentiment. The benchmark index remained under pressure throughout the session.
The negative momentum largely tracked global market trends amid heightened geopolitical uncertainty, driven by violations of the ceasefire and renewed attacks, which reignited concerns across financial markets and kept investor risk appetite subdued.
On the index contribution front, heavyweight stocks remained under pressure, with UBL, ENGROH, FFC, HBL, HUBC and PPL collectively eroding approximately 561 points from the benchmark index.
TPL Properties led turnover with 60.58 million shares, gaining 95 paisas to close at Rs10.28. TPL Corp Ltd followed with 43.8 million shares, rising 82 paisas to Rs13.02. The remaining turnover leaders were Pace (Pak) Ltd, Waves Home App, Thatta Cement, Beco Steel Ltd, WorldCall Telecom, Pak Qatar Family, DS Ind Ltd and Pak Qatar General.In the futures market, 310 contracts were traded, with 47 increasing, 260 decreasing and 3 unchanged.
