Pakistan’s benchmark KSE-100 Index closed Monday’s trading session lower, falling 339.6 points, or 0.20%, to 170,425.62 as rising global oil prices weighed on investor sentiment.
The index remained volatile during the session, moving within a range of more than 1,000 points. It reached an intraday high of 171,126.52 before falling to a low of 170,120.49.
Market sentiment was affected by developments surrounding the Strait of Hormuz after Washington rejected Tehran’s ceasefire terms, raising concerns about prolonged disruptions to global oil supplies. Higher crude prices added pressure to equities.
Commercial banks were the biggest drag on the index, contributing a decline of 206.49 points, followed by Cement with 154.86 points. UBL, HBL, LUCK, ENGROH and MARI were among the major stocks weighing on the benchmark.
Gains in Technology & Communication, Refinery, Oil & Gas Exploration, Power Generation and Fertilizer sectors provided some support. TRG, FFC, OGDC, ATRL and HUBC were among the leading positive contributors.
Trading activity also weakened during the session. KSE-100 volume stood at 139 million shares, while total market volume declined to 421.02 million shares from 482.76 million in the previous session. Traded value fell by Rs. 1.55 billion to Rs. 17.74 billion.
Of the 496 companies traded, 181 closed higher, 267 declined and 48 remained unchanged. The All-Share Index also fell 184.03 points to 103,057.02.
