KARACHI: Pakistan Stock Exchange endured a turbulent trading session on Monday as sustained selling pressure erased early gains and pulled the benchmark index sharply lower.
The KSE-100 index began the day on a positive note, climbing to an intraday high of 174,336.86 points during early hours. However, the upward momentum quickly faded as investors resorted to profit-taking at elevated levels, reversing the gains.
Market sentiment remained fragile throughout the session, overshadowed by geopolitical tensions, uncertainty surrounding the upcoming International Monetary Fund (IMF) review, and mixed corporate earnings expectations. As trading progressed, selling intensified across major sectors, reflecting cautious investor positioning and limited buying interest.
In the final hour, accelerated sell-offs pushed the index to an intraday low of 166,886.63 points. By the close, the KSE-100 index had plunged 5,478.63 points, or 3.16%, settling at 167,691.08.
Broad-based weakness was evident across index-heavy sectors as investors trimmed exposure amid prevailing macroeconomic and geopolitical concerns. Market participants remained wary ahead of the IMF assessment, widely viewed as a critical short-term catalyst.
On the corporate side, Oil & Gas Development Company Limited (OGDC) announced a record interim dividend of Rs7.8 per share for the first half of FY26, marking its highest-ever payout for a first half. Despite reflecting strong profitability and cash flow, the announcement failed to counterbalance the broader market downturn.
According to JS Global’s Head of Research Waqas Ghani, although some geopolitical pressures have eased, overall risk appetite remains subdued as investors continue to price in uncertainty rather than waiting for confirming macroeconomic indicators.
Topline Securities reported that the index fluctuated between 174,336 and 166,886 points during the session, influenced partly by rollover-week activity. Major laggards included Fauji Fertiliser Company, Lucky Cement, Engro Holdings, National Bank of Pakistan, and Habib Bank Limited, which collectively dragged the index down by 1,797 points.
Despite the steep decline, total trading volume reached 461.2 million shares, with a turnover of Rs24.9 billion. A total of 479 companies’ shares were traded, of which 42 advanced, 389 declined, and 48 remained unchanged. K-Electric led trading volumes with 36 million shares exchanged, closing down Rs0.37 at Rs7.66.
