PSX slips 454 points as investors struggle to find direction

KSE-100 Index settles at 165,966 amid lack of positive cues, subdued sentiment

The Pakistan Stock Exchange (PSX) closed lower on Monday as a subdued market mood and persistent selling in key sectors kept investors cautious, with the benchmark KSE-100 Index failing to sustain its recovery amid a lack of positive triggers. The index shed 453.63 points, or 0.27%, to settle at 165,966.09 points.

The session began on a weak note, with the index falling to 166,120.90 points, down 298.81 points, or 0.18%, at 9:38am, reflecting early selling pressure. The market attempted to recover during the day, with the index climbing to an intraday high of 166,698.46 points. However, the recovery proved short-lived, and the index later touched a low of 165,918.35 points before ending the session in negative territory.

Selling was observed in major sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies and oil marketing companies. The broad-based pressure limited the market’s ability to build on its intraday recovery and left the benchmark below the previous close.

Investor sentiment remained fragile as the market lacked fresh positive cues to encourage sustained buying. With selling pressure persisting across key sectors, investors remained cautious, keeping the overall tone subdued through the session.

Read: PSX struggles on weak indicators

According to KTrade Securities, the KSE-100 Index declined 454 points (-0.27%) to close at 165,966 on Monday amid cautious investor sentiment and subdued volume of 109 million shares. Trading activity was concentrated in Pakistan Refinery, Cnergyico PK, TPL Trakker, Worldcall Telecom and Saif Power, while selective buying in MCB Bank, Attock Refinery, Pakistan Oilfield, TRG Pakistan and Bank Al Falah provided partial support.

Sectoral weakness was broad-based, led by commercial banks, cements, investment banks and techs while UBL, Systems, Fauji Fertiliser and Hub Power led stock-specific declines. Meanwhile, Brent crude remained elevated above $100 per barrel, resulting in macroeconomic uncertainty.

KTraded added that it expected the market to remain cautious and range-bound next week, with near-term direction contingent on global oil prices, geopolitical developments and corporate earnings. A sustained recovery in trading volumes remains critical to underpin broader market participation and a durable rally, it said.

Overall, trading volume decreased to 370.9 million shares against Friday’s total of 396.9 million while the value of traded shares stood at Rs19.56 billion.  Shares of 499 companies were traded in the ready market, of which 163 stocks closed higher, 302 fell and 34 remained unchanged.

Pak Refinery was the volume leader with trading in 53 million shares, gaining Rs1.86 to close at Rs108.81.