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The Pakistan Stock Exchange (PSX) opened the week on a bearish note as the benchmark KSE-100 Index slipped 1,140 points, closing at 162,163.81, down 0.70% from the previous session’s 163,304.13. The market traded in a narrow range, hitting an intra-day high of 163,570.83 and a low of 161,766.61, reflecting investor caution amid the ongoing rollover week and corporate earnings uncertainty.
Investor sentiment remained fragile ahead of the Monetary Policy Committee (MPC) meeting, with profit-taking dominating the energy and manufacturing sectors.
Analysts at KTrade Securities said,
“The PSX opened the rollover week under selling pressure due to the absence of positive triggers. Investor sentiment weakened, leading to a broad-based decline.”
Heavyweights like Pakistan State Oil, Lucky Cement, United Bank Limited, Mari Energies, and HBL dragged the index lower, while minor support came from Air Link Communication, Askari Bank, and Searl Company. Mixed quarterly earnings from major firms such as Gharibwal Cement, Millat Tractors, and Fauji Cement added to the cautious tone.
Despite the downturn, analysts believe the market may stabilize as the State Bank of Pakistan’s decision to maintain the policy rate at 11% could restore some short-term confidence. The ongoing corporate results season is expected to guide market direction in the coming sessions as investors look for positive cues.
