Karachi — The Pakistan Stock Exchange (PSX) witnessed a muted and choppy session on Monday, with the benchmark KSE-100 index unable to maintain early gains, eventually closing slightly lower amid low trading volumes and cautious investor sentiment.
After opening on a positive note, the index surged to an intra-day high of 162,385 points by mid-day, up roughly 282 points. However, profit-taking and mixed market sentiment soon erased these gains, pushing the index down to an intra-day low of 161,241 points. By the close, the KSE-100 settled at 161,984, down 118.84 points, or 0.07%.
Analysts attributed the subdued performance to the lack of strong market triggers and heightened caution ahead of key macroeconomic updates. “While the muted close reflects lingering uncertainty, the consolidation around current levels may provide stability if trading volumes improve and policy clarity emerges,” noted market observers.
Sector-wise, 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 fertilizer sector showed resilience, boosted by gains in Fauji Fertiliser and Engro Corporation. Banking and cement stocks also contributed to the day’s mixed performance.
Topline Securities highlighted that the market largely remained range-bound as investors took a cautious stance, especially with November futures contracts nearing expiry. Political developments, rollover-related flows, and major macroeconomic indicators, including the upcoming IMF tranche, are expected to influence trading in the coming sessions.
Trading volumes fell to 490.4 million shares, down from 768 million in the previous session, with a total traded value of Rs23.66 million. Of 477 companies traded, 191 closed higher, 247 declined, and 39 remained unchanged. PIA Holding led the volume charts, exchanging 63.3 million shares and closing at Rs34.94, up Rs1.50.
Overall, Monday’s session reflected investor caution, with pockets of selective buying stabilizing the market towards the close despite early volatility.
