Stocks fall modestly as investors stay cautious
The Pakistan Stock Exchange (PSX) fell modestly on Thursday as investors remained cautious owing to the dearth of major positive cues that could revive interest and build confidence.
At close, the benchmark KSE-100 index posted a decline of 481.40 points, or 0.30%, to settle at 159,096.79.
In a major news report, the global indices provider MSCI announced the results of its latest review, where it made changes in global indices constituents, effective from the market close on November 24, 2025. Arif Habib Limited (AHL), in its report, mentioned that Pakistan’s market outperformed the MSCI Frontier Markets Index by 14.6% in fiscal year 2026 to date.
Earlier, the bourse opened on a positive note and hit the intra-day high of 160,591 points in the very first hour of trading. However, it could not sustain the momentum as selling pressure built, which pulled the KSE-100 down to the intra-day low of 158,253 well before midday.
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• KMI-30: Pullers & Draggers pic.twitter.com/rOYgzf9tvYThough the market recovered significantly, it again fell later and closed with modest losses amid lacklustre trading, influenced by the cautious mood of investors.
Topline Securities, in its review, remarked that the stock market lost steam after a lively start to the week.
“The market remained lacklustre, with sentiment weighed down by the absence of any major news flow. After oscillating between the intra-day high of 1,012 points and low of 1,325 points, the KSE-100 index eventually settled at 159,097, losing 481 points or 0.30%,” it said. “With no clear drivers in sight, investors chose to stay cautious, leading to another session of muted trading and range-bound activity.”
Losses were largely driven by UBL, Meezan Bank, OGDC, Maple Leaf Cement, and Engro Holdings, which collectively eroded 285 points from the index. Conversely, Pakistan Services, Colgate-Palmolive, Hubco, Askari Bank, and Pakistan Telecommunication Company Ltd lent partial support, adding 236 points to the benchmark.
Despite the bearish close, trading activity remained strong, with total volumes rising to 957 million shares and traded value reaching Rs30.4 billion. Bank Makramah led the chart with 93 million shares changing hands, Topline added.