Momentum fizzles at PSX as KSE-100 slips 118 points in range-bound session

Banking, cement and E&P sectors drag market; KSE-100 closes at 161,984 amid low volumes, cautious sentiment

The Pakistan Stock Exchange (PSX) witnessed a lacklustre and choppy session on Monday, with the benchmark KSE-100 index failing to sustain early gains and eventually closing marginally lower.

After opening on a firm note, the index climbed to an intra-day high of 162,385.33 by mid-day, adding around 282 points. However, profit-taking and mixed investor sentiment erased these advances, pushing the benchmark to an intra-day low of 161,241.47 amid persistent volatility.

By the close of trading, the KSE-100 settled at 161,984.09, down 118.84 points or 0.07%.

Market participants attributed the subdued performance to the absence of clear market-moving triggers, with investors choosing caution ahead of key macroeconomic updates. Analysts noted that while the market’s muted close reflected uncertainty, consolidation around current levels could offer stability provided volumes pick up and policy clarity improves.

In its report, KTrade Securities said the PSX opened the rollover week with low volumes, range-bound activity, and muted participation. The brokerage noted that the Oil & Gas sector led the selling pressure, with Mari Energies, Oil and Gas Development Company, Pakistan Oilfield and Pakistan Petroleum dragging the index lower. In contrast, the fertiliser sector recorded a positive session, driven by gains in Fauji Fertiliser and Engro Corporation.

Read: PSX stays range bound before futures rollover

KTrade added that market sentiment in the coming sessions would likely depend on political developments, rollover-related flows, and major macroeconomic indicators. It further highlighted that progress on the upcoming IMF tranche and evolving regional geopolitical dynamics would remain crucial in shaping near-term market direction.

Topline Securities reported that the local bourse stayed largely range-bound as investors adopted a cautious stance amid the expiry of November futures contracts. It said concerns over the law-and-order situation in Peshawar also weighed on early trade. However, selective buying later in the session helped stabilise the index at 161,984, after registering the day’s high of 162,385 and low of 161,241.

According to Topline, key heavyweights including Fauji Fertiliser, Engro Fertiliser, Pioneer Cement, Bank Al Habib, and Habib Bank collectively added 499 points to the index. Meanwhile, Mari Energies, Oil & Gas Development Company, Meezan Bank, Pakistan Oilfield, and Pakistan Petroleum were the leading decliners, subtracting a combined 347 points.

Overall market participation weakened, with trading volume falling to 490.4 million shares compared to 768 million on the previous session’s close. Traded value stood at Rs23.66 million. Out of 477 companies traded, 191 closed higher, 247 declined, and 39 remained unchanged.

PIA Holding emerged as the volume leader, with 63.3 million shares changing hands. The stock gained Rs1.5 to close at Rs34.94.